Primoris receives new underground contract work for $150M Primoris Services announced new contract work totaling approximately $150M. The new contracts and work authorizations were secured by ARB and Rockford, both part of the West Construction Services Segment of Primoris. The projects involve primarily pipeline and gas utility infrastructure projects. Work for Rockford's new contracts will begin in Q1 2013 and is slated for completion by Q3 2013. ARB Underground Group has recently obtained new pipeline and distribution related work to be completed by the end of 2013.
Primoris acquires Aevenia from Otter Tail for $23M Primoris Services (PRIM) announced that it has acquired Aevenia, a subsidiary of Otter Tail Corporation (OTTR). Aevenia is an energy and electrical construction company. The transaction closed on February 28, 2015 and was valued at approximately $23M. For the year ended December 31, 2014, Aevenia generated EBITDA of $5.9M on revenues of $44.4M.