MAy 15, 2013
Pike Electric Corporation Prices Upsized Secondary Offering by Selling Stockholder
MOUNT AIRY, N.C.--(BUSINESS WIRE)--May. 15, 2013-- Pike Electric Corporation (NYSE: PIKE) (“Pike”), one of the nation’s leading energy solutions providers, today announced the pricing of the secondary public offering of shares of its common stock (the “offering”) by an entity affiliated with Lindsay Goldberg LLC (the “selling stockholder”) at a price to the public of $11.50 per share.
The offering of the shares has been upsized from 6,500,000 shares to 6,956,522 shares. In addition,
the underwriters of the offering will have an option to purchase up to 1,043,478 additional shares from the
selling stockholder. The selling stockholder will receive all of the proceeds from the offering; no shares in
the offering are being sold by Pike or any of its officers or directors.
Pike entered into a share repurchase agreement with the selling stockholder, subject to the completion of the
offering, pursuant to which it intends to repurchase 3,661,327 shares of its common stock for $40 million at a
price per share equal to the price per share being paid by the underwriters to the selling stockholder in the
offering. Pike expects to fund the share repurchase with borrowings under its revolving credit facility and available
cash. The share repurchase is subject to a number of conditions, and there can be no assurance that such conditions
will occur or that the share repurchase will be completed on the contemplated terms or at all.
J.P. Morgan and BofA Merrill Lynch are acting as Joint Bookrunning Managers for the offering. BB&T Capital Markets,
FBR Capital Markets, Janney Montgomery Scott, KeyBanc Capital Markets and Stifel are acting as Co-Managers for
The offering is being made pursuant to an effective shelf registration statement, including a prospectus
and a preliminary prospectus supplement related to the offering, filed by Pike with the Securities and
Exchange Commission (the “SEC”). Copies of the prospectus supplement and accompanying prospectus relating to
the offering may be obtained from: J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by telephone at +1 (866) 803-9204 or BofA Merrill Lynch,
Attn: Prospectus Department, 222 Broadway, New York, New York 10038, or by e-mail at firstname.lastname@example.org.
Before you invest, you should read the prospectus and other documents filed with the SEC for more complete
information about Pike and the offering. You may also obtain these documents for free from the
SEC’s EDGAR database available online at www.sec.gov.
This press release is for informational purposes only and shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state
or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other jurisdiction.
MAy 13, 2013
Pike Electric Corporation Announces Secondary Offering by Selling Stockholder and Concurrent Stock Repurchase
Pike Electric Corporation Announces Secondary Offering by Selling Stockholder and Concurrent Stock Repurchase
MOUNT AIRY, N.C.--(BUSINESS WIRE)--May. 13, 2013-- Pike Electric Corporation (NYSE: PIKE) (“Pike”), one of the
nation’s leading energy solutions providers, today announced an underwritten offering of 6,500,000 shares of its
common stock (the “offering”) by an entity affiliated with Lindsay Goldberg LLC (the “selling stockholder”),
pursuant to Pike’s shelf registration statement previously filed with the Securities and Exchange Commission
(the “SEC”). The underwriters of the offering
will have an option to purchase up to 975,000 additional shares from the selling stockholder.
The selling stockholder will receive all of the proceeds from the offering; no shares in the offering are
being sold by Pike or any of its officers or directors.
In addition, Pike announced that it will enter into a separate agreement with the selling
stockholder to repurchase $40 million of its common stock at a price per share equal to the price per share
being paid by the underwriters to the selling stockholder in the offering. The repurchase agreement between
Pike and the selling stockholder represents a private, non-underwritten transaction that was negotiated,
reviewed and recommended by a special committee of Pike’s board of directors, composed entirely of independent
directors. The shares repurchased will be cancelled by Pike. The closing of the concurrent stock repurchase
is contingent on the closing of the offering and subject to a number of other conditions, and the stock
repurchase is expected to close concurrently with the closing of the offering. The closing of the offering
is not contingent on the closing of the concurrent stock repurchase.
J.P. Morgan and BofA Merrill Lynch are acting as Joint Bookrunning Managers for the offering.
The offering of these securities will be made only by means of the prospectus, copies of which may be
obtained from J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, or by telephone at +1 (866) 803-9204 or BofA Merrill Lynch, Attn: Prospectus Department,
222 Broadway, New York, New York 10038, or by e-mail at email@example.com. Before you invest,
you should read the prospectus and other documents filed with the SEC for more complete information about Pike
and the offering. You may also obtain these documents for free from the SEC’s EDGAR database available online
The shares of common stock are being offered pursuant to an effective shelf registration statement, which Pike
filed with the SEC on September 7, 2006. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or other jurisdiction.
MAy 6, 2013
Pike Reports 23% Revenue Growth and 33% EPS Growth in Fiscal Third Quarter
MOUNT AIRY, N.C. – May 6, 2013 – Pike Electric Corporation (NYSE: PIKE), one of the nation’s
leading energy solutions providers, today reported fiscal third quarter 2013 results for the period ended
March 31, 2013. Total revenue in the third quarter 2013 was $200.2 million, up 23% compared to $162.8
million in the year-ago period. Net income in the third quarter 2013 totaled $2.7 million, or $0.08 per
diluted share. In the year-ago period, net income totaled $2.0 million, or $0.06 per diluted share.
Total revenue in the fiscal third quarter 2013 included storm-related services of $25.4 million, compared
to $6.3 million in the same quarter last year. Gross profit totaled $25.0 million, compared to $20.5 million
in the year-ago period. General and administrative expenses totaled $18.7 million, compared to $16.2
million in the year-ago period.
“We continue to be pleased with the success of our diversification strategy and growth. Transmission and
substation continue their positive trends and engineering services now generate over 18 percent of our
core revenue,” said J. Eric Pike, Chairman and CEO of Pike. “Although our third quarter results were
significantly affected by reduced construction productivity in our mid-Atlantic and southeastern territory
due to snow and extremely wet weather conditions, investments in training, and expansion costs for Pine
Valley Power and UCS, we remain on track for a record year and our actions this quarter will aid in our
The Company has adopted two reportable segments for financial reporting purposes: Construction and All
Other Operations. The accompanying ‘segment results’ table provides eliminations and other adjustments
that reconcile the segment revenues and income from operations amounts to consolidated results.
Construction revenue totaled $166.7 million, up 16% compared to $144.4 million in the year-ago period.
Income from operations in the Construction segment totaled $5.2 million, compared to $3.8 million in the
year-ago period. All Other Operations revenue totaled $33.5 million, up 82% compared to $18.4 million
in the year-ago period. Income from operations in the All Other Operations segment totaled $1.3 million,
compared to $1.5 million in the year-ago period.
Dec 4, 2012
Pike Electric Corporation Declares Special Dividend
MOUNT AIRY, N.C. – December 4, 2012 – The Board of Directors of Pike Electric Corporation (NYSE: PIKE) today declared a special dividend of $1.00 per share payable on December 21, 2012 to all stockholders of record as of December 14, 2012.
“We reported very strong financial results in our fiscal first quarter. Our performance in the September quarter was driven by a combination of double-digit organic growth, the contribution from our most recent acquisition, and $50 million in storm-related revenue,” said Eric Pike, Chairman and Chief Executive Officer. “In anticipation of another strong performance in our fiscal second quarter, I am pleased to report the board’s decision to payout a special dividend before December 31.”
Pike will utilize the revolving credit facility to fund the dividend. The Company anticipates positive cash flows from operating activities during the fiscal third quarter will be used to repay the debt.
Jun 27, 2012
Pike Completes Acquisition of UC Synergetic
MOUNT AIRY, N.C. – July 2, 2012 – Pike Electric Corporation (NYSE: PIKE), one of the nation’s leading energy solutions providers,
today announced that it completed the acquisition of Synergetic Design Holdings, Inc. and
its wholly owned subsidiary UC Synergetic, Inc. With UC Synergetic, Pike will extend its
footprint in the Northeast and Midwest and become one of the largest utility infrastructure
engineering and design firms in the United States.
Headquartered in Charlotte, UC Synergetic has major offices in Atlanta, Boston, Columbus, Dallas, Denver,
Raleigh and Tampa. For more information, visit www.ucsynergetic.com.
Jul 02, 2012
Pike Completes Acquisition of UC Synergetic
MOUNT AIRY, N.C. – June 27, 2012 –Pike Electric Corporation (NYSE: PIKE), one of the nation’s
leading energy solutions providers, today announced that it has agreed to purchase Synergetic Design
Holdings, Inc. and its wholly owned subsidiary UC Synergetic, Inc., in an all cash transaction valued at
approximately $70 million.
UC Synergetic, Inc. primarily provides engineering and design services for electric utilities. Their focus
is on distribution powerline projects including storm assessment and inspection services. In addition, UC
Synergetic provides engineering and design services for transmission and substation infrastructure as well
as for the communications industry.
“UC Synergetic’s engineering capabilities complement our existing portfolio of companies, adding scale
and extending our footprint in the Northeast and Midwest. This acquisition significantly increases our
ability to provide outsourced engineering and other technical services to our customers and is consistent
with our long-term growth strategy,” said J. Eric Pike, Chairman and CEO of Pike.
Headquartered in Charlotte, UC Synergetic generated approximately $72 million of revenue during the
last twelve months. The team at UC Synergetic will operate independently from Pike’s existing
engineering team during the integration process, which is expected to begin immediately following the
close of this transaction in early July 2012. The transaction is subject to customary closing conditions and
the acquisition is expected to be slightly accretive to earnings in the fiscal year ending June 30, 2013.
“We are very excited to have the talented UC Synergetic team join our growing family of companies as
we continue to expand our engineering and construction platform,” continued Mr. Pike.
UC Synergetic has major offices in Atlanta, Boston, Columbus, Dallas, Denver, Raleigh and Tampa. For
more information, visit www.ucsynergetic.com
Apr 18, 2012
Appreciation letter Pike Received from the commander of U.S.Navy's medical service corps.
On March 13th and 14th, Pike's EHS Department conducted 7 live line Demonstarations at the Twentieth Annual Safety
Professional Development Conference held by the Department of Defense in Hampton, Virginia.Over 1200 safety profesionals from the navy
, Marine Corps, Army, Air Force, and Coast Guard participated in this event
Below is a letter of appreciation letter Pike Received from the commander of U.S.Navy's medical service corps
Feb 11, 2012
Pike Tanzania shares experience with U.S. trade delegates
DAR ES SALAAM, TANZANIA (2/11/12) – Delegates on an 11-day U.S. energy trade mission led by Assistant Secretary of
State Johnnie Carson and co-sponsored by the Corporate Council on Africa met with senior government officials and
successful energy developers, including Pike Tanzania, to explore opportunities for public-private partnerships.
Pike Vice President, Ken Flechler spoke with delegates regarding Pike’s recent entry into Tanzania through a
$17.9M Millennium Challenge Corporation contract to expand the country’s power grid. Prospective investors were
interested in hearing about Pike’s success with navigating government relations and building host country partnerships.
Delegates on the mission included U.S. power developers and infrastructure financiers positioned to significantly
advance implementation of new power generation projects in Tanzania, Mozambique, Ghana and Nigeria. The delegation met
with senior host government officials to discuss specific legal and regulatory constraints hampering private investment
to power generation sector projects.
Lack of access to reliable, reasonably priced electricity is a major development constraint in Tanzania and most African countries.
Implementation of large projects is crucial to addressing huge African generating capacity needs and providing the
lowest per unit cost of electricity possible. Funding for the handful of private sector projects currently in progress
is provided primarily through development finance and other donor financial institutions, such as the World Bank.
Private sector debt and equity financing is needed to significantly scale up power infrastructure development.
The four African countries selected for the trade mission offer strong opportunities for new project implementation
based on continuing progress by host governments in the energy and investment policy areas.
Dec 13, 2011
Pike to be Subcontractor to Fluor for Clean Line Energy 800-Mile Transmission Line
MOUNT AIRY, N.C. – December 13, 2011 – Pike Electric Corporation (NYSE: PIKE),
one of the nation’s leading energy solutions providers, announced today that it will be a
subcontractor to Fluor (NYSE: FLR) for the proposed Plains & Eastern Clean Line LLC project,
which is an 800-mile high-voltage direct current (HVDC) transmission line from Oklahoma to Tennessee
and is currently in the development and permitting stages.
Fluor, which announced today that it has signed a memorandum of understanding with Plains
and Eastern Clean Line LLC, an affiliate of Clean Line Energy Partners LLC, will
provide development support, preliminary engineering, procurement and construction services (EPC)
for the project. After the project has received all permits and regulatory and financial approvals,
Fluor and Pike will provide the full EPC services for the transmission line project.
The Plains & Eastern Clean Line will consist of approximately 800 miles of overhead HVDC
transmission lines that will deliver 3,500 megawatts of power from Oklahoma, Texas and Kansas
to the southeastern United States.
“We are excited to bring our full suite of services to this important renewable energy project.
The partnership of Pike, Fluor and Clean Line ensures qualified talent at all levels will be working
to make this HVDC transmission line project a success,” said Eric Pike, Chairman and CEO of
Pike Electric Corporation.
The completion of the Plains & Eastern Clean Line transmission project will make possible an
estimated $7 billion of new renewable energy projects that otherwise may not be built due
to limitations of the existing electric transmission grid. The Plains & Eastern Clean Line
will create thousands of jobs and increase state and local tax revenues.
The project is expected to take several years to fully permit and could begin
commercial operation as early as 2017.
About Clean Line Energy Partners
Clean Line’s mission is to connect abundant, renewable energy resources to areas that have
a high demand for clean, reliable energy. Clean Line is developing a series of long distance
high voltage direct current transmission projects to move renewable energy to market.
For more information please visit www.cleanlineenergy.com
About Fluor Corporation
Fluor Corporation designs, builds and maintains many of the world's most challenging and
complex projects. Through its global network of offices on six continents, the company provides
comprehensive capabilities and world-class expertise in the fields of engineering, procurement,
construction, commissioning, operations, maintenance and project management. Headquartered in Irving,
Texas, Fluor is a FORTUNE 200 company and had revenue of $20.8 billion in 2010.
For more information, visit www.fluor.com
Dec 03, 2011
Pike promotes investment at TanzaniaUK event
LONDON (12/2/11) – Pike Electric Vice President Ken Flechler and Pike Tanzania Country Manager Cameron Carter were
among the presenters at the 2011 TanzaniaUK Investment Forum in London on December 2.
More than 100 global investors attended the high-profile event.
Flechler, Carter and Tanzanian Minister of Energy and Minerals William W. Ngelej were panelists on a case study session on
Pike Electric’s recent entry into Tanzania through a $17.9M Millennium Challenge Corporation contract aimed to
strengthen the country’s energy sector. Flechler shared the company’s challenges and successes in its first foray
into the global market, providing attendees with valuable insight on developing host country partnerships,
navigating government regulations, and the vast opportunities Tanzania holds for investors.
Sponsored by CountryFactor in partnership with the Tanzania Investment Centre, the conference highlighted
the Tanzania’s favorable economic growth and showcased investment opportunities across numerous sectors
including agribusiness, mining, infrastructure and energy.
Nov 21, 2011
PIKE ELECTRIC RECEIVES NC OSHA’S CAROLINA STAR AWARD FOR WORKPLACE SAFETY AND HEALTH EXCELLENCE
Pike Electric was recognized by the North Carolina Department of Labor’s Occupational Safety
and Health Administration as a “Carolina STAR” site under OSHA’s Voluntary Protection Program at its Mount Airy facility.
Since 1982, out of a potential 220,000 businesses in North Carolina, only 94 sites have been recognized for this prodigious achievement.
Pike is the only electrical contractor to receive the award in the state of North Carolina.
The “Carolina STAR” recognition is the highest honor given to facilities demonstrating outstanding health and safety practices.
In awarding this elite status, NC OSHA gives strong consideration to the level of employee involvement in on-site health and safety program development
and to long term management commitment and support.
At the presentation of the Carolina STAR Site Plaque and Flag, Cherie Berry, Commissioner for North Carolina’s Department of Labor stated,
“Pike participates with us on the Career Development Program, Lineman Rodeo and now, the Carolina STAR. Congratulations to all the employees at
Pike for achieving our highest safety recognition. ”
“Throughout the years, Pike has changed for the better. There have been lots of milestones but today is a pinnacle,” said J. Eric
Pike, Chairman and CEO of Pike Corporation. “This commitment is reflective of our entire corporation’s overall dedication to operational safety excellence.”
Nov 02, 2011
Pike Crews responding to North East Storm
Roy Sceace, left, and Chris Pack of Pike Electric from Mt. Airy, N.C., work to restore electric power on South Main Street in Newtown Tuesday, Nov. 1, 2011.
The same company sent crews to Greater Danbury to help during Tropical Storm Irene.
Photo: Michael Duffy / CT
Read more: Click Here Read More
Workers with Pike Electric from Mt. Airy, N.C., begin to restore electric power on South Main Street
in Newtown Tuesday, Nov. 1, 2011. The same company sent crews to Greater Danbury to help during
Tropical Storm Irene. Photo: Michael Duffy / CT
Read more: Click Here Read More
Certified Utility Safety Professional Program Offers Utility-Specific Safety Credentials
Oct 21, 2011
PIKE ELECTRIC EMPLOYEES RECEIVE CUSP GREEN CREDENTIALS
The Utility Safety & Ops Leadership Network (USOLN) is pleased to announce that Clifford Carroll and Ronald Conley,
both of Pike Electric, have received the Certified Utility Safety Professional (CUSP) credential.
They are part of the Louisville, Ky. class that took the CUSP exam on October 6.
The CUSP program was developed by the USOLN to promote safety leadership in the utility industry by formally
recognizing those individuals who meet specific eligibility requirements and pass the CUSP exam.
The exam is designed to test a broad-based understanding of utility safety regulations, competencies
and task-directed skills. CUSP certification encourages continued personal and professional growth in
the practice of utility safety leadership and provides a national standard of requisite knowledge required
CUSP certification is the only program that offers utility-specific safety credentials
to meet the unique requirements of utilities and related utility contractors.
CUSP certification is a two-tiered, color-designated program. To be eligible for the CUSP Green – Safety Management program,
an individual must have three years of safety experience in the utility industry and at
least five years in an assumed safety position. The CUSP Blue – Operations Management, Supervisory
and Foreman program requires three years of utility field experience and at least one year in an
assumed safety position. All eligible individuals must pass either the CUSP Green or CUSP Blue exam
in order to be certified.
Carroll and Conley met the eligibility requirements for the CUSP Green program and passed the exam
to receive their CUSP Green credentials.
“Successful completion of the CUSP Green exam confirms a high level of knowledge in the utility
safety discipline and allows the group from Pike Electric to use the CUSP credential,” said Carla Housh,
USOLN executive director. “We congratulate the Pike Electric employees on this significant accomplishment in their careers,
which will only enhance their value to their
employer and the industry. The USOLN is proud that Clifford and Ronald were some of the first individuals to take
the step of becoming CUSPs.”
Before taking the CUSP Green exam, the group completed a comprehensive two-day safety leadership course offered by
the USOLN. It is designed to enhance job safety knowledge and leadership skills, and to help prepare for the CUSP exam.
While it is optional, the USOLN recommends that individuals planning to take the CUSP exam enroll in this valuable training
course. For further information on the the two-day safety leadership course, the CUSP program and the exam schedule,
visit www.usoln.org call Carla Housh at 815-459-1796.
The Utility Safety & Ops Leadership Network is a group of utilities, contractors and communications
providers working together to establish strong safety leadership through a reliable Certified Utility
Safety Professional program,
legislative and regulatory updates, and networking resources.
Oct 03, 2011
Pike Electric Corp. Vice President of IT will present at Gartner’s Symposium in Orlando, FL
Pike Electric Corporation (NYSE:PIKE - News), one of the nation's leading energy solutions providers,
announced that it will present at Gartner’s Symposium ITxpo 2011 at the Walt Disney World Resort in Orlando, FL
on October 19th.
Michael Seymour, Vice President of Information Technology, will present at 1:30 pm Eastern as part
of a three person executive panel on the topic of CIO Innovation.
The session will be located at Disney’s Yacht and Beach Convention Center – Grand Harbor South.
Gartner Symposium/ITxpo 2011 is the industry's largest and most important annual gathering of CIOs
and senior IT leaders. It delivers independent and objective content with the authority and weight
of the world's leading IT research and advisory organization. For more information
Sep 02, 2011
Customers revel in simple pleasures as BGE makes final fixes with the help of Pike Crews
Utility tries to clear the last few storm outages
Click here to see how Pike crews responding to Irene
Sep 02, 2011
Pike crews responding to Irene Affected BGE Customers
Click here to see how Pike crews responding to Irene
August 29, 2011
Pike Electric is the newest class of Certified Utility Safety
By Carla Housh of Incident Prevention Magazine
Last week Pam Tompkins and I had the pleasure of bringing the Certified Utility Safety Professional (CUSP) program to Pike Electric in
Charlotte, N.C. The Pike safety team is a very knowledgeable and dedicated group.Most of the Pike safety leaders have been
with the company for 20+ years. It was especially interesting to learn more about the company over dinner. Pike Electric has
been providing contracting services since 1945, and today its employees work in 49 states and several countries. I continue to
learn something new every day as I had thought they were a large Southeastern contractor.
After completing the Pike class, the number of CUSPs serving the utility industry has grown to 147! Not bad for a
relatively new certification program.There is still time to earn your CUSP in 2011 as we’re offering classes in
Kentucky, Florida and Nebraska. Visit www.usoln.org to learn more and get started on the process.
August 16, 2011
Pike Electric Corp. Chairman and CEO interviewed on Bloomberg Television
J. Eric Pike, Chairman & Chief Executive Officer of Pike Electric Corp., talks with
Pimm Fox on Bloomberg Television's “Taking Stock.” He speaks about the distribution of electricity
in the U.S. as well as regulation of the electricity industry and the company's projects
in Southern California and Tanzania.
The Company is also a recognized leader in storm restoration services.
Click here to see Eric Pike interview on Bloomberg about the U.S. Distribution of Electricity Is Rebounding
Dar Es Salaam, Tanzania
July 11, 2011
Pike CEO Eric Pike attends Tanzanian State Dinner
Stressing partnership and economic development during a state dinner held at the
Tanzanian State House, President Jakaya Kikwete thanked visiting US business leaders
for their support of his country’s efforts to expand and build critical infrastructure.
Senior executives from the US currently participating in an economic summit organized by the
Tanzanian Ambassador Mwanaidi Maajar were invited to attend the dinner and interact with the
President and administration leadership.
“This was an incredible opportunity to talk directly with decision makers and hear firsthand
about how we can continue to help the people of Tanzania accomplish their goals.
Talking with President Kikwete and his staff has confirmed the importance of our work to expand
the energy network throughout the country, while also giving us a chance to listen to their
vision of the future,” stated Pike Electric CEO J. Eric Pike.
During the President’s speech Mr. Kikwerete focused in on the country’s safety, security and
social wellbeing, but specifically made mention of the vital work currently be carried out by
Pike in Dodoma and Tanga. President Kikwete personally thanked Eric Pike and the other delegates
for their company’s dedication and service to the Tanzania people.
Pike has been contracted to build out approximately 800 km of new distribution line.
This project will run through Eighty-four villages in two areas north of the country’s
capital of Dodoma.
Click here to see the President Jakaya Kikwete hosts a dinner to US investors in Dar es salaam
August 2, 2011
Pike Expands Capabilities in the West; Purchases Pine Valley Power, Inc.
Pike Electric Corporation (NYSE: PIKE), one of the nation’s leading
energy solutions providers, announced its purchase of Pine Valley Power, Inc. based in Bluffdale, Utah.
Pine Valley Power provides construction and maintenance services to the
transmission and distribution, renewable energy, industrial water and mining industries.
Pine Valley generated revenue of approximately $25 million during the last 12 months. Michael Horan,
Pine Valley Power’s President, will retain that position.
“Mike and his talented team, their geographic location and strong union relations
will enable Pike Electric Corporation, through Pine Valley Power, to construct and maintain
transmission and distribution infrastructure throughout the West. Mike and his team also
bring tremendous renewable energy knowledge including geothermal electricity generation.
Pine Valley Power combined with our Pike Energy Solutions West coast engineering offices and our
Klondyke Construction business based in Phoenix, Arizona provide a great team to pursue large scale
EPC projects in the West,” stated J. Eric Pike, Chairman and CEO of Pike Electric Corporation.
“Joining the Pike family of companies gives us the resources to pursue more and larger projects as
we work to dramatically grow our business. Our customers have been looking for us to take on larger,
more complex projects and with Pike’s backing that will now be possible,” explained Mike Horan,
Pine Valley Power President.
“Over the past three years Pike has continued to execute on our growth strategy of service line
diversification and geographic expansion. Mike and his team help us continue this strategy in the West,
and provide a platform to leverage our full range of services to customers in that region,” continued Mr. Pike.
Jun 27, 2011
KUB: Restoring power to remaining customers will take time
KUB crews have restored power to more than 100,000 customers since Tuesday night's storm.
Approximately 25,000 KUB customers remain without electricity as of 4:30 p.m. Thursday,
and for some of those, it could be days before power is restored.
A total of 67,000 customers were restored within the first 24 hours of the outage,
marking the largest number of
customers ever restored in that short a period of time.
Crews have had a tough time accessing the lines due to the large number of
downed trees and other extensive damage.
Given these challenges, a definite time frame for restoration of specific
areas is not available, and KUB is advising customers to prepare for outages
lasting multiple days. Restoration in areas with extensive damage will likely
extend through the weekend, and potentially into next week.
"We want our customers to know that this will be an extended outage," said Mintha Roach,
KUB President and CEO. "The severity and widespread nature of damage from this storm is
unprecedented for our system, and although we've made good progress, restoration is going
to take several days."
There are several thousand line repair jobs waiting to be worked, and unlike
those jobs that were completed in the first 36 hours, these remaining jobs will
often only restore power to a handful of customers at a time.
A typical line job can take up to 4-6 hours to repair. Jobs requiring a pole replacement
take a minimum of 6-8 hours.
KUB has called in extra help. In addition to 27 KUB crews,
they've brought in 30 Pike Electric contract crews from across the state,
including Clinton, Bristol, Kingsport, Greeneville, Johnson City, and Murfreesboro.
Pike crews have also come in from Kentucky and Virginia to assist.
Customers can seek help from the following agencies as KUB continues to restore service:
•Red Cross Shelter - The Knoxville Red Cross office has opened a shelter at Central
Baptist Church, 5364 N. Broadway, for individuals and families who are without power.
The shelter can handle people with special medical equipment, and can administer minor first aid.
•No reservations needed. Meals and sleeping accommodations are provided.
The public can call the Red Cross office at (865) 584-2999 for more information.
•Day Respite - The O'Connor Senior Center is open Monday - Friday, 8:30 a.m. - 4:30 p.m.
Lunch is served from 11 a.m. - 12:30 p.m. Must be 50 and older. Activities are available,
plus attendees can watch TV or read. Call 523-1135 for more information.
•Call 211 - Information is available for locations and times where hot meals available
throughout the community.
•Knox Area Rescue Ministries - Serves three meals a day to anyone in need.
Located at 418 N. Broadway.
•Samaritan Place - A program of Catholic Charities that can provide temporary housing for
those 55 and older. Must call ahead to 684-1880.
•Customers with critical medical equipment may need to initiate their emergency plan to relocate
to a safe location or contact their health care provider to arrange for backup equipment.
Jun 27, 2011
95 utility crews working to restore power to KUB customers
More utility crews than ever before are working in Knox County after an
unprecedented power outage for the Knoxville Utilities Board.
KUB has called contract crews in from across the state and from as
far away as Indiana to help restore power to customers.
There are currently 95 KUB and contract crews working to assess damages,
clear trees and debris, and repair poles and lines.
In addition to KUB and Pike Electric crews,
Friday's list also includes resources provided by Fort Loudoun Electric Cooperative
and its contract crews from Service One.
"We appreciate the support we've received from our contractors, suppliers,
and neighboring utilities,"
said Mintha Roach, KUB President and CEO. "We were gaining ground in our
restoration efforts, but this morning's storm was a setback. We appreciate our
customers' patience as we continue to repair the damage from both of these storms."
Crews have replaced 49 transformers and 50 poles so far during restoration efforts.
KUB has stocked up on the materials needed to supply crews repairing damages,
and further deliveries are scheduled to continue through next week.
At the height of Tuesday's storm, more than 127,000 KUB customers were without power.
Approximately 29,000 KUB customers remain without electricity as of 11:30 a.m.
following another round of severe storms that hit the KUB service territory early Friday morning.
The outages continue to be scattered with the largest concentrations in northwest,
south and west Knox County. KUB will continue working non-stop to restore power to all customers.
May 02, 2011
Upended, and helped
On May 07, 2011,-- Raleigh, NC - Upended, and helped
My husband and I are happy to be settled in to our cozyt routine again. This time last week our power was still out
from the storm and we were crowded into our son's small apartment. Tuesday afternoon
we watched the last of the Pike Electric trucks from Mount Airy pull away as our lights came back on.
Our thoughts now are with those who still wait and worry and wish for their old routine, and worse,
grieve for lost lives, homes and precious possessions. We can't imagine the stress, discomfort,
anxiety and sadness they are living with.
Our heartfelt thanks go out to those utility workers from here and elsewhere
who have worked so hard to restore order, as well as the EMS, police and fire personnel
who responded so quickly, and the countless organizations and volunteers who are
steadily helping those who have been left with lives upended.
Apr 08, 2011
Pike IT to Present at National Conference
On Apr 07, 2011,-- Mount Airy, NC - Two members of Pike’s Information Technology Department have been
selected to present at the Inspire 2011 Conference in Las Vegas, Nevada.
Inspire 2011 is the national user conference for Perceptive Software, a subsidiary of Lexmark Corporation.
Andrew Prisk and Amarnath Vangoor will be discussing the integration and usage of Message Agent and Mail
Agent and how Pike has extended the native capabilities of the Perceptive product, ImageNow, to streamline
operations in Pike’s back office. In addition Pike will be demonstrating a Web and iPad client designed to
extend ImageNow’s capabilities to mobile devices.
The session will be held on Wednesday, April 13th at 8:30am.
Pike has also been selected to participate as a Partner in Perceptive’s Software Developer Network –
Partner Highlight session of the conference. This session will highlight three partners who have developed
innovative add-ons that extend the capabilities of the core platform and give them an opportunity to discuss
and market those add-ons to other Perceptive customers.
For more information on Inspire or Pike’s session please see:
Inspire 2011 website:
Extending the ImageNow Platform with Web Services
ImageNow System Administrators
Brandon Crespino, Product Manager
Andrew Prisk, Pike Enterprises Inc.
Amar Vangoor, Pike Enterprises Inc.
SOAP-based web services can extend the accessibility of ImageNow documents in
your enterprise, while enabling ImageNow to look up and retrieve data, and
create and modify transactions inside external systems. This session explores
real-world customer uses of Message Agent and Envoy products, showing you how
Extending the ImageNow Platform
with Web Services
Seamlessly integrate and automate processes with multiple business applications
Provide key ImageNow document search and retrieval functionality to a broader
Automate transaction creation and modification within major package-based
Adapt to changing business and technical requirements
The Perceptive Software Developer Network - Partner Highlights
ImageNow System Administrators
Sascha Ohler, Team Lead - Technical Partner
Stepehen Pickell, CSP Group
Steve Chamberlin, Napersoft
The class will highlight 2-3 partner solutions. The attendees will learn the
Information about the PSDN
The extensibility of the Perceptive Software platform
Exciting partner offerings
Apr 07, 2011
Lights back on for thousands of Georgians
On Apr 07, 2011,-- ALBANY, GA - The lights are back on for thousands of south Georgia's who went more than
30 hours without power.
At Georgia Power's operations center in Albany, out of state crews were lined up Thursday morning waiting to
see if there was more work to do. 60 crews from Pike Electric Corporation came to south Georgia from Tampa along
with 20 crews from another contractor. By midnight, they had power reconnected to more than 2,200 customers
who didn't have electricity most of yesterday.
"This is the largest storm ever to hit with such intensity in such a short period of time,
so within the first 24 hours, at the close of the first 24 hours in the south region we had 45,000
customers out, we had it down to 4,100 or 4,200 customers by 8:00 Wednesday morning," said Henry Everson,
Georgia Power Engineering Supervisor.
EMC's statewide still had about 1,900 customers without power Thursday. Work was slowed by the need to
remove trees and replace so many broken utility poles. Customers who must repair their homes before power
can be reconnected are the only ones still without power. Georgia Power and Mitchell EMC's thanked customers
for their patience and businesses who provided workers with food.
Mar 02, 2011
Pike working at EnergyUnited on outages
On Apr 05, 2011,-- EnergyUnited crews are working to restore power outages caused by the raging storm that
produced winds estimated at 90 miles per hour.
At the peak of this early morning storm, approximately 16,000 EnergyUnited members throughout its
19-county service area were impacted.
As of 10 a.m., slightly more than 8,900 members were without power. The number of members and
counties that are still largely impacted include 1,600 in Catawba, 4,500 in Davidson,
1,100 in Lincoln, 500 in Iredell, 360 in Rowan and 200 in Mecklenburg.
EnergyUnited crews began working shortly after 1 a.m. this morning and are continuing their efforts to
restore power to the interrupted areas. Officials estimate that power to most members should be restored by this evening.
Due to the extent of damage, additional line crews from Pike Electric and neighboring cooperatives are assisting in
power restoration efforts. Crews will continue to work until all power is restored.
The cooperative’s service area sustained moderate damage with downed power lines and broken utility poles.
Replacing poles and rebuilding lines are a time-consuming process. In storms that produce rain and high winds,
power outages are most often caused by fallen trees and branches, making outages widespread
Mar 02, 2011
Pike Awarded $275 Million EPC Transmission Project for SCANA Corporation
On Mar 02, 2011,-- Pike Electric Corporation (NYSE: PIKE), a leading national energy solutions provider, announced today that SCANA Corporation has awarded Pike an engineering, procurement, and construction (EPC) contract for approximately 250 miles of new 230kV transmission lines associated with the expansion of the V.C. Summer Nuclear Station in South Carolina.
These lines will support the two nuclear power units being added by South Carolina Electric & Gas Company (SCE&;G), principal subsidiary of SCANA Corporation (NYSE: SCG), and the South Carolina Public Service Authority (Santee Cooper), a state-owned electric and water utility in South Carolina. The new units, known as V.C. Summer 2 and 3, are scheduled for completion in 2016 and 2019. The station began commercial operation January 1, 1984 and this construction marks one of the first U.S. nuclear plants to add reactors in 20 years.
Pike’s ability to provide a full portfolio of services including siting, permitting, engineering, procurement and construction was a key consideration for SCE&G in awarding the contract. In addition, because these lines will be built on existing rights-of-way, Pike’s experience and safety record in working with energized lines and equipment was another factor in SCE&;G’s selection.
“This project demonstrates the full spectrum of energy services Pike now offers to our customers and the industry. We are extremely proud to partner with SCE&G on this landmark project. ," said Eric Pike, Chairman and CEO of Pike. "The engineering for this project begins immediately utilizing Pike's Charlotte office, and construction is expected to be completed by the end of 2014 for Unit 2 and the end of 2018 for Unit 3."
South Carolina Electric & Gas Company is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity to approximately 661,000 customers in South Carolina. The company also provides natural gas service to approximately 314,000 customers throughout the state. More information about SCE&G is available at www.sceg.com.
About SCANA Corporation
SCANA Corporation, a Fortune 500 company headquartered in Columbia, South Carolina, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses in South Carolina, North Carolina and Georgia. Information about SCANA Corporation and its businesses is available on the Company's Web site at www.scana.com.
Jan 28, 2011
Pike signs OSHA Strategic Partnership Renewal
On January 25, 2011, J. Eric Pike, Chairman and CEO of Pike Electric along with CEOs of
Asplundh Tree Expert Co., Edison Electric Institute, Henkels & McCoy Inc., IBEW, MDU
Construction Services Group Inc., MYR Group Inc., the National Electrical Contractors
Association, and Quanta Services, Inc. renewed their strategic partnership with the
Occupational Safety and Health Administration (OSHA)to protect electrical transmission and
distribution workers. The partnership was originally signed in August 2004 and
renewed twice since then.
“As an original member, Pike is excited to renew the OSHA Strategic Partnership and look forward to the continued reduction in employee injuries and accidents,” said J. Eric Pike. “This group will continue to lead safety in the industry in the development and implementation of best practices.”
Since the most recent renewal in 2008, the industry, the Partnership and Pike have reduced its OSHA recordable rates.
June 30, 2010
Pike Expands Reach to Southwest;
Purchases Phoenix-based Klondyke Construction, LLC
MT. AIRY, N.C., June 30, 2010 - Pike Electric Corporation (NYSE: PIKE), one of the nation’s leading energy solutions providers,
has purchased Klondyke Construction LLC based in Phoenix, AZ.Klondyke provides construction and maintenance services primarily
associated with electric substation, transmission and distribution infrastructure. Klondyke also constructs renewable energy
generation facilities. Klondyke generated revenue of approximately $28 million during the last twelve months. Following the
close of the acquisition, Howard Varner, President, and Steve McClain, Vice President and Chief Financial Officer, will
continue in their current roles at Klondyke.
“The talented individuals that work for Klondyke coupled with their geographic
location and union relationships make this a very compelling move for us. This acquisition is consistent with our growth
strategy and significantly expands our presence in the southwest,” said J. Eric Pike, Chairman and CEO of Pike.
“Pike’s siting, planning, and engineering capabilities now provide Klondyke the platform to pursue multiple large scale EPC
projects simultaneously. This combination positions Klondyke to offer an even broader level of service to our customers,”
explained Howard Varner, president of Klondyke.
Klondyke’s range of construction services related to substation, transmission and distribution infrastructure complements our
west coast engineering capabilities and enables the continued expansion of EPC services. “This combination allows Pike and
Klondyke the ability to meet the increased need for substation and transmission infrastructure in the southwest region as more
solar and wind capacity is developed and brought on line,” continued Mr. Pike.
June 03, 2010
June is National Safety Month
MOUNT AIRY, N.C., June 03, 2010 -- To promote the safety and health of our employees at work, at home and in the community,
Pike is proud to participate in National Safety Month throughout the month of June. Each year the National Safety Council
designates June as National Safety Month and encourages businesses to participate. Every week in the month carries a theme
that brings attention to critical safety issues. Pike is participating by utilizing materials from the National Safety Council
and with our own program focused on safety issues specific to our Company. More details on National Safety Month can be found
be visiting the National Safety Council website at http://www.nsc.org/nsc_events/Nat_Safe_Month/Pages/home.aspx
February 04, 2010
Pike Electric Welcomes General Peter Pace, Former Chairman of the Joint Chiefs of Staff, to Its Board of Directors
MOUNT AIRY, N.C., Feb 04, 2010 /PRNewswire via COMTEX/ -- Pike Electric Corporation (NYSE: PIKE), one of the nation's largest providers of energy solutions, today announced that retired Marine General Peter Pace has joined Pike Electric's Board of Directors, effective February 4, 2010.
"General Pace is an outstanding addition to our Board," said J. Eric Pike, Chairman and Chief Executive Officer of Pike Electric. "A highly respected leader, he brings tremendous knowledge and experience regarding cyber security, strategic planning and large scale mobilizations.
We look forward to his guidance and insight." As the sixteenth Chairman of the Joint Chiefs of Staff, General Pace served as the principal military advisor to the President, the Secretary of Defense, the National Security Council, and the Homeland Security Council. He is the first Marine to
hold this position. He is a graduate of the United States Naval Academy, holds a Master's Degree in Business Administration from George Washington University, and attended Harvard University for the Senior Executives in National and International Security program. General Pace held
command at virtually every level in the Marine Corps beginning as a rifle platoon leader in Vietnam.
December 22, 2009
Pike’s Engineering and Substation Team Earns Safety Award
MOUNT AIRY, N.C., Dec. 21 /PRNewswire-FirstCall/ -- Pike Electric Corporation (NYSE: PIKE), a leading national energy
solutions provider, was awarded the “Silver Safety Award” by Liberty Mutual Group on December 17th. Jimmy R. Hicks,
the Senior Vice President of Engineering and Substation Construction, received the award on behalf of the Engineering
and Substation team and stated, “All the credit goes to the employees.”
The requirements for Liberty’s Safety Award are based on the DART rates as published by the Bureau of Labor Statistics.
Companies who apply for the award must have completed greater than 200,000 work hours with a DART rate that is 60% better
than their industry average. Between January 1, 2007 and December 31, 2008, Pike’s Engineering and Substation
Team completed 1,091,266 work hours with a OSHA DART rate that was 68% better than the industry.
Ken Flechler, Pike’s Vice President of Environmental, Health and Safety, said, “This excellent achievement says a
lot about the premium we put on safety and our commitment on maintaining safety on our jobsites. We continue to spread our
message about safety in an increasingly engaging manner and look forward to even greater reduction in our work place injuries.”
About Liberty Mutual Group -- Boston-based Liberty Mutual Group is a diversified
global insurer and fifth largest property and casualty insurer in the U.S. based on 2008 direct written premium. The
Company also ranks 86th on the Fortune 500 list of largest corporations in the U.S. based on 2008 revenue. As of
December 31, 2008, Liberty Mutual Group had $104.3 billion in consolidated assets, $94.2 billion in consolidated
liabilities, and $28.9 billion in annual consolidated revenue.
Pike purchases Charlotte-based Facilities Planning and Siting (PLLC)
Expands Energy Solutions Portfolio
June 30, 2009
Pike Electric has purchased Facilities Planning & Siting, PLLC (FPS) based in Charlotte,
FPS combines the collective talents of civil engineers, GIS analysts, landscape architects, and
environmental experts to develop site plans for utilities, cooperatives and municipalities with
cutting-edge technology and a comprehensive siting procedure that fully integrates environmental,
engineering, real estate, economic, regulatory and community considerations. FPS also provides measurements
and predictions for the visual effects of future electrical transmission and substation projects, electrical
distribution line projects, gas transmission projects and electrical generation projects, through proprietary
software tools that determine views, build perspective models from
selected viewpoints, create photo-realistic simulations and utilize a comprehensive rating model.
"The outstanding people and renowned reputation of FPS further enhances the services Pike offers customers
through our portfolio of Energy Solutions. This acquisition allows us to provide services and value at the
conceptual stages of our customer’s projects," said J. Eric Pike, Chairman and CEO at Pike.
Following the closing of the acquisition, Dwight Hollifield, the current president of FPS,
will lead the facilities planning and siting services provided by Pike’s engineering group, and
will be assisted in his efforts by all of the former employees of FPS.
Swine Flu Update
Pike's Customer and employee safety a top priority
April 30, 2009
Pike is working to minimize the effects of a pandemic* on Pike employees, as well as our customers, suppliers and the public.
Yesterday, the World Health Organization (WHO) elevated the Pandemic Level to Phase 5 but the US Federal Government Response Stage did not elevate and remains at Stage 2. Today the Secretaries of the Department of Homeland Security and Health and Human Services as well as the Acting Director of the Center for Disease Control held a webcast regarding the Swine Flu. Throughout the call they actively promoted the following good health habits to stop the spread of the virus
- Avoid close contact.
Avoid close contact with people who are sick. When you are sick, keep your distance from others to protect them from getting sick too.
- Stay home when you are sick.
If possible, stay home from work, school, and errands when you are sick. You will help prevent others from catching your illness.
- Cover your mouth and nose.
Cover your mouth and nose with a tissue when coughing or sneezing. It may prevent those around you from getting sick.
- Clean your hands.
Washing your hands often will help protect you from germs.
- Avoid touching your eyes, nose or mouth.
Germs are often spread when a person touches something that is contaminated with germs and then touches his or her eyes, nose, or mouth.
- Practice other good health habits.
Get plenty of sleep, be physically active, manage your stress, drink plenty of fluids, and eat nutritious food.
Pike has activated our pandemic preparedness team and monitoring the recommendations of government organizations.
We have plans in place to deal with a pandemic situation and to continue to protect our employees and serve our
customers. For additional information, please refer to the World Health Organization, the Center for Disease
Control (www.cdc.gov), and the US Government’s Official
Pandemic Flu website (www.pandemicflu.gov).
Swine Flu Alert
Pike's Customer and employee safety a top priority
April 29, 2009
Yesterday, the World Health Organization (WHO) issued the following press
release regarding the recent outbreak of swine influenza:
The current situation regarding the outbreak of swine influenza A(H1N1) is evolving rapidly. As of 27 April 2009, the United States Government has reported 40 laboratory confirmed human cases of swine influenza A(H1N1), with no deaths. Mexico has reported 26 confirmed human cases of infection with the same virus, including seven deaths. Canada has reported six cases, with no deaths, while Spain has reported one case, with no deaths.
Further information on the situation will be available on the WHO website (www.who.int) on a regular basis.
WHO advises no restriction of regular travel or closure of borders. It is considered prudent for people who are ill to delay international travel and for people developing symptoms following international travel to seek medical attention, in line with guidance from national authorities.
There is also no risk of infection from this virus from consumption of well-cooked pork and pork products. Individuals are advised to wash hands thoroughly with soap and water on a regular basis and should seek medical attention if they develop any symptoms of influenza-like illness.
Pike is working directly with governmental and health officials to stay informed and to ensure that we are
properly prepared in the event of any impact realized by the Swine Flu. The safety of our employees and our
customers is our first priority. As such, we are continually monitoring and preparing for the potential
impact of the swine flu and are taking steps to ensure the safety of our employees and continuity of our
operations for our customers.
For additional information, please refer to the World Health Organization,
the Center for Disease Control (www.cdc.gov), and the US Government’s Official Pandemic Flu website
Ken Flechler to lead Pike’s Safety Organization
April 14, 2009
Safety expert joins as Vice President, Environmental, Health & Safety
Pike Electric is pleased to announce that Ken Flechler has joined the company as VP of Environmental,
Health and Safety.
“We are excited to have Ken on the team,” said Eric Pike, Chairman and CEO at Pike. “His proven
leadership in driving the development of effective safety programs and processes speaks to the core
of our number one priority – the safety of our employees, customers and the public.”
Flechler comes to Pike with more than 15 years progressive leadership experience in environmental,
health and safety – most recently from COMCAST, where he served as Vice President, Safety & Compliance.
From analysis of risks and liabilities to training and implementation, Flechler’s leadership resulted
in a dramatic reduction of workplace injuries and vehicle accident rates.
“Ken’s hands-on experience in accident prevention and operational compliance is impressive, and his
background in corporate environments with mergers, acquisitions, restructuring and organic growth is
a good fit for our business strategy,” said Pike.
Flechler is currently on the National Safety Counsel’s Board of Directors. He has also served on
committees with the U.S. Chamber of Commerce and the Department of Homeland Security’s Critical
Infrastructure Protection Program.
In this newly expanded leadership role, Flechler will lead increased focus and development of safety
programs for a safe and accident free work environment, including internal audits, safety investigations,
and training, with a continuing emphasis on improving Pike’s safety culture.
CNBC - Eric Pike Rings the Bell for PBR at the New York Stock Exchange
January 8, 2009
CNBC interviews Eric Pike, CEO of Pike, following the ringing of the bell at the New York Stock Exchange for the Professionial Bull Riders Association (PBR).
Pike is proud to be a sponsor of the 2009 PBR season.Click here to view the video.
Pike’s Energy Solutions touted in all new, redesigned Pike.com!
January 23, 2009
Pike has a brand new corporate website to go with its new Energy Solutions business.
There’s a lot to talk about, now that our footprint stretches coast-to-coast, and the value we offer our clients and their customers is front-to-back, turn-key power solutions.
We want to make sure that people can understand what we’re doing – and find out more about it.
We’re really proud to be at the backbone of the energy industry – especially now, as more and more emphasis is on energy alternatives – and new ways to get power to people, while protecting the environment and saving money.
It feels good to be a part of that, as more focus turns to our country’s infrastructure, where we play such an important role.
You can read all about our Energy Solutions online. Right here. On our new corporate website. With easier to use features and updated information.
Plus, the pictures are cool.
Click on in. Welcome to Pike.