Graham announces acquisition of Rokstad Power
Graham intends to assume and maintain all existing agreements and relationships between impacted First Nations to perform work designated with BC Hydro.
Key Takeaways:
- Graham Power Services, in partnership with 42 West Constructors Ltd., plans to acquire the powerline construction and maintenance assets of Rokstad Power Ltd. and affiliates, subject to approval by the British Columbia Supreme Court, with a target close date of February 17, 2025.
- Graham intends to maintain existing agreements with First Nations for work with BC Hydro, emphasizing sustainable and community-focused practices. Additionally, 42 West Constructors Ltd. will continue the collective bargaining agreement with Local Union 258 of the International Brotherhood of Electrical Workers.
- The acquired team will operate as Graham Power Services, offering overhead and underground powerline construction, maintenance, storm response, and substation services. Bryan Plowe will lead operations in British Columbia, focusing on strengthening customer relationships and creating growth opportunities.
The Whole Story:
Graham Power Services on behalf of its parent, Graham Maintenance Services LP. and its partner, 42 West Constructors Ltd., announced today that Graham intends to acquire the powerline construction and maintenance assets and resources of Rokstad Power Ltd. and affiliates from FTI Consulting Canada Inc, in its capacity as court-appointed receiver of Rokstad.
The transaction remains subject to the approval of the British Columbia Supreme Court, the hearing for which is currently scheduled for January 31, 2025. Once approved, there are certain closing conditions that will need to be met, with an outside close date of February 17, 2025.
Graham is an employee-owned business with over 2,700 staff and the capacity for up to 6,000 craft workers. Established in 1926 and with offices throughout North America, Graham Group generates annual revenues exceeding $4 billion and has delivered over 500 projects annually.
“Graham is very excited for the opportunity to welcome a highly capable team that will now operate as Graham Power Services, delivering maintenance and construction of overhead and underground distribution and transmission systems, as well as emergency response to storms and substation services,” said Thomas Grell, Graham’s Executive Vice President, Services.
As part of the transaction, Graham intends to assume and maintain all existing agreements and relationships between impacted First Nations to perform work designated with BC Hydro.
“It will also be our honor to continue to build and grow these existing relationships with all Indigenous groups that share the same values for territory sustainability, economic stewardship for the land, and to benefit their communities,” said Graham Vice President, Terry Mitchell.
42 West Constructors Ltd. intends to assume and continue the collective bargaining agreement (master line agreement) with Local Union 258 of the International Brotherhood of Electrical Workers.
Graham Power Services operations in BC will continue under the leadership of Bryan Plowe as Vice President, Power Services.
“I am proud of the services our team has been delivering to outstanding Canadian customers like BC Hydro and many others,” said Plowe. “As we join Graham, I am excited by the possibilities for expanding our customer relationships, working with other divisions of Graham, and creating opportunities for our people.”
