By The Business Journal of the Greater Triad Area

Pike Electric Corp. has purchased Klondyke Construction of Phoenix, Ariz., according to an announcement.

The Mount Airy-based Pike is an energy solutions firm designs, installs and maintains power delivery systems. Klondyke provides construction and maintenance services for electricity substations, transmission and distribution infrastructure.

Klondyke also constructs renewable energy generation facilities including solar and wind generators, and generated about $28 million in revenue last year, said Pike CEO J. Eric Pike.

"The talented individuals that work for Klondyke coupled with their geographic location and union relationships make this a very compelling move for us. This acquisition is consistent with our growth strategy and significantly expands our presence in the southwest," Pike said.

The terms of the acquisition were not announced.

Copyright 2010 American City Business Journals

http://triad.bizjournals.com/triad/stories/2010/07/05/daily5.html?ana=thestreet

Copyright bizjournals.com 2010

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