Centuri Holdings Expands Canadian Footprint with Acquisition of Connect Atlantic Utility Services
Centuri Holdings, Inc. (NYSE: CTRI) (“Centuri” or the “Company”) has announced the successful completion of its acquisition of Connect Atlantic Utility Services Corporation (CAUS), the leading provider of electric utility services in Atlantic Canada. This strategic move marks a significant milestone for Centuri, establishing it as a dual electric and gas services provider within Canada. The acquisition not only complements Centuri’s existing gas distribution services in the region but also extends its geographic reach, positioning the company to capture a larger share of the growing Canadian utility services market.
CAUS, which has built a strong reputation across the Atlantic provinces, primarily operates in Nova Scotia, New Brunswick, and Newfoundland and Labrador. The company provides a comprehensive suite of services, including maintenance, construction, and storm response, catering to both electric utilities and private developer customers. With a workforce that is largely unionized, CAUS has cultivated a culture focused on safety, reliability, and customer satisfaction—values that align closely with Centuri’s operational philosophy.
Strategic Rationale Behind the Acquisition
The acquisition comes at a pivotal time for Canada’s energy sector. Investment in electric grid modernization, system resiliency, and clean energy integration is accelerating across the country. According to Centuri President and CEO Christian Brown, “The Canadian power market is experiencing significant growth driven by investment in electric grid modernization, system resiliency, and clean energy integration. This acquisition directly supports our disciplined growth strategy by expanding our Canadian presence and market offerings, enabling us to serve customers in new geographies and positioning Centuri as a key partner in supporting Canada’s evolving energy landscape.”
Brown emphasized the strategic importance of integrating CAUS’s capabilities with Centuri’s existing services. By combining the operational expertise and regional knowledge of CAUS with Centuri’s broader service portfolio, the company expects to deliver enhanced value to customers, strengthen long-term partnerships, and accelerate growth in Canada. “We are excited to welcome the talented CAUS team to Centuri and look forward to making an immediate impact in delivering expanded service offerings while building lasting partnerships with our customers,” Brown added.
Complementary Capabilities in Canadian Utilities
Neil Waugh, President of Centuri’s Canadian business segment, highlighted the synergies created through the acquisition. “CAUS is a great complement to our existing natural gas distribution service offerings, bringing a highly capable, committed team. Together we can expand what we offer our customers while accelerating Centuri’s strategy. This acquisition allows us to unlock opportunities neither organization could achieve alone,” he said.
By combining CAUS’s expertise in electric utility services with Centuri’s established presence in natural gas distribution, the company now provides a more diversified utility services platform in Canada. This integrated approach enhances Centuri’s ability to participate in large-scale infrastructure projects, respond to regional energy demands, and offer end-to-end solutions for utility operators and developers alike.
Industry Trends and Market Opportunities
Canada is poised for substantial investment in electricity infrastructure over the next several decades. Industry analysts project that nearly $2 trillion will be invested by 2050 to support electricity grid modernization, expand clean energy integration, and enhance resiliency across the country. These investments are expected to create significant opportunities for service providers like Centuri and CAUS, particularly in the areas of grid maintenance, storm restoration, and infrastructure upgrades.
John MacKinnon, President of CAUS, expressed enthusiasm about joining Centuri, emphasizing the alignment of values and operational priorities. “We are excited to be joining Centuri, a leader in utility infrastructure services that shares our commitment to safety, operational, and customer excellence. Combining the resources, processes, and expertise of Centuri and CAUS positions us well to expand our offerings and reach and deliver even greater value for customers, employees, and all the stakeholders we serve,” MacKinnon said.
The integration of CAUS into Centuri’s operations also reinforces the company’s commitment to workforce development. By leveraging the skills and experience of CAUS employees alongside Centuri’s existing teams, the company anticipates accelerating project delivery timelines and enhancing the quality of service across all regions.
Transaction Advisory and Legal Support
Seale & Associates served as the exclusive financial advisor to Centuri for the acquisition, providing strategic guidance and transaction expertise throughout the process. Legal counsel was provided by Bennett Jones LLP, ensuring the transaction met all regulatory requirements and aligned with best practices for corporate governance.
A Stronger, More Integrated Utility Services Platform
With the completion of this acquisition, Centuri is strategically positioned to capitalize on Canada’s rapidly evolving utility landscape. The combined capabilities of Centuri and CAUS provide a platform for growth in both electric and gas services, enabling the company to pursue new market opportunities, deliver enhanced services to customers, and contribute to the modernization of Canada’s energy infrastructure.
As the Canadian energy sector continues to grow and evolve, Centuri’s expanded presence and diversified service offerings reinforce its status as a leading provider of utility infrastructure services. The integration of CAUS ensures that Centuri can address the full spectrum of electric and gas infrastructure needs, supporting both public and private utility operators in achieving operational excellence and advancing Canada’s clean energy goals.
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