Pike Electric Corp (NYSE: PEC)

One of the largest providers of outsourced electric distribution and transmission services in the United States. The Company performs engineering, design, maintenance, upgrade and construction of electric distribution and transmission powerlines. The Company is also a recognized leader in storm restoration services.

Engagement Goals

Advised Pike Electric on the acquisition of Shaw Energy Delivery Services, Inc. (“EDS”), an affiliate of The Shaw Group Inc (NYSE: SGR). EDS, headquartered in Charlotte, NC, is a provider of design, engineering, procurement, construction and maintenance services for electrical transmission, distribution and substation systems throughout North America. EDS serves a diverse customer base including utilities, independent power producers, generators, municipalities, co-operatives, state and federal agencies, and institutions.

Engagement Process and Outcomes

The Assignment –Brookwood leveraged its experience in the electrical infrastructure and engineering services industries to assist the Pike management team with development and execution of a plan for the strategic acquisition of EDS and subsequent negotiation of the transaction with The Shaw Group.

Valuation of the Business – Brookwood performed significant analytical work to determine the financial characteristics of the EDS division under Pike ownership, including the assistance of identifying and quantifying synergistic adjustments, divestiture costs and growth opportunities.

Management of Challenging Due Diligence Process – Managed an extensive due diligence process within a challenging corporate divestiture environment. Speed was a critical attribute to closing the transaction, and Pike was able to leverage Brookwood resources to insure the deal closed in a satisfactory time period.