Apr 13 2010
Rosendin Electric, Inc., a leading national electrical engineering, power and communications provider and the largest 100 percent employee-owned electrical contractor, announced today that it has completed its acquisition of KST Electric, Ltd. ("KST"), a Texas-based, privately held, full-service electrical, data and communication contracting company.
With this acquisition, Rosendin Electric gains immediate access to the burgeoning Texas construction market. KST Electric is a leading and respected Texas contractor with more than 600 employees, headquarters in Austin, and regional offices in Dallas, Houston, San Antonio, Corpus Christi and Harlingen. This acquisition will give KST Electric the capacity to scale its operations to bid on substantially larger construction projects drawing on Rosendin Electric's financial resources. KST Electric will be able to leverage Rosendin Electric's expertise in design-build, renewable energy, mission-critical energy systems, high-tech and health-care construction, and other service areas to expand its business.
Under the terms of the acquisition, KST Electric will continue to operate under its current name and will operate as a wholly owned subsidiary of Rosendin Electric. Kenneth R. Tumlinson, a co-founder of KST Electric, will continue to lead KST as its president.
Tom Sorley, Rosendin Electric's Chief Executive Officer, stated, "KST is an important addition to the Rosendin family, and this acquisition is one of many steps being taken to achieve our growth strategy and geographic expansion. KST has a reputation as a safety-conscious and quality electrical contractor and will be an excellent strategic fit."
"We are excited about the addition of KST, and we expect that it will make an immediate positive contribution to Rosendin Electric's operations. Kenneth Tumlinson has built a solid company, and we look forward to working with Kenneth and the other members of KST's management team to grow and strengthen the business," said Larry Beltramo, Rosendin Electric's President.
"We are proud of our accomplishments and excited about joining the Rosendin family," said Tumlinson. "We think that the resources that Rosendin Electric can provide to our customers and employees cannot be matched and will allow us to continue to provide exceptional customer service and a quality product for many years to come."
Source: http://www.rosendin.com/