"Our team is honored and excited to be joining the Pernix Group family of companies and returning to our BE&K Building Group roots" said Mac Carpenter, President of the Building Group. "The opportunity to continue providing world-class construction service to our clients, while leveraging Pernix's agility, commitment to safety, quality control, and world-wide presence will allow us to continue exceeding our clients' expectations while expanding our reach and allowing us to follow our clients throughout the world."Upon completion of the sale, which is expected to occur by June 30, 2015, KBR Building Group will be known as "BE&K Building Group, A Pernix Group Company." Pernix is financing this $28 million dollar transaction (including approximately $6 million of working capital) through a combination of equity financing and existing cash. Pernix's Chairman of the Board, Mr. Don Gunther stated "I am proud of what our management team has accomplished. This acquisition will be transformational and allow our company to significantly penetrate and grow the domestic market. We now have a platform for national growth and diversification. This acquisition represents a significant milestone for Pernix Group. Our Board and I continue to be bullish on the future of Pernix." Morgan Joseph TriArtisan's Industrials team served as Pernix's financial advisor; FTI Consulting provided tax and financial due diligence and Greenburg Traurig, P.A. served as legal advisors to Pernix. About Pernix Group, Inc. Pernix Group, Inc. is a global company with its headquarters in Lombard, Illinois. The Company is engaged in three primary markets: Federal Government, Commercial & Industrial, and Power. Pernix has full-scale construction and management capabilities, with operations in the United States, Africa, the Middle East, and the South Pacific. Additional information is available at www.pernixgroup.com. Forward-Looking Statement Certain of the statements made in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the Company's filings with the U.S. Securities and Exchange Commission.
CONTACT: Patrick J. Gainer Chief Financial Officer Pernix Group, Inc. Tel: (630) 620-4787 firstname.lastname@example.org