Madison, Wisconsin-based Hooper Corp. announced its acquisition of Premier Energy Services, a provider of natural gas distribution construction, maintenance and engineering services in Ohio, Kentucky and Indiana.
Hooper Corp. is a full-service electric power and mechanical contractor. Hooper engages in electrical power overhead line, substation, underground electrical construction and line clearance work. The company also offers extensive mechanical contracting services, including plumbing and plumbing services, process and power piping, fire protection, custom metal fabrication and HVAC.
This acquisition provides Hooper a platform to deliver natural gas construction, maintenance and engineering services that complement Hooper’s electric power offerings to customers in the central United States. FMI Capital Advisors Inc., a subsidiary of FMI Corp., acted as the exclusive financial advisor to Hooper for this transaction.
“FMI provided us with valuable guidance throughout the transaction by sourcing and evaluating the opportunity, providing thoughtful analysis, and assisting with due diligence,” said Steve Lindley, vice president of operations at Hooper. “We look forward to working with John Stenger, CEO and president of Premier, as we expand our capabilities to include natural gas distribution work and strengthen our service offerings for our core markets in the central U.S.”
In a press release posted on the Premier Energy Services website it notes that both Hooper and Premier share a common commitment to safety, quality, responsiveness and cost, to build and maintain the infrastructure that enables utilities to confidently deliver cost-effective, reliable and efficient energy delivery services to homes and businesses throughout the United States.
Hooper anticipates Premier to drive growth for the company and will be investing in the people and infrastructure to leverage the increasing demand for natural gas distribution services. The release notes that many energy delivery utilities offer both electric and natural gas services, so the acquisition now positions Hooper as a stronger, evolving, more integrated and diversified service provider to these utilities.
Premier Energy will be operated as a separate business of Hooper’s Electric Power Division, and the current leadership team will remain in place and John Stenger will remain president of Premier. Hooper is assembling a team to integrate Premier seamlessly into Hooper’s operations. Hooper anticipates hiring additional workers and staff as demand increases for Premier’s natural gas distribution services.