Vancouver-based Corix Group of Companies’ utilities arm has spent an undisclosed amount to buy large U.S. utility Hydro Star, LLC. from Highstar Capital Fund II, L.P. and other owners, the company announced February 20.
Corix is best known for being the company contracted to install smart meters across the province for BC Hydro.
“Corix’s vision is to be the leading North American multi-utility infrastructure provider and this acquisition continues the successful execution of our growth strategy,” said Corix’s CEO Brett Hodson.
Part of the attraction for the deal was that Hydro Star owns Utilities Inc., which is one of the largest privately owned U.S. water and wastewater companies, serving more than 290,000 customers across 15 states.
Utilities Inc. has five regional offices and employs 435 staff in 15 states.
Corix, which has around 2,000 staff, including 420 staff in B.C., ranked No. 27 on the most recent Business in Vancouver list of the Top 100 private companies in B.C. (See ‘Top 100 private companies in B.C.” – issue 1129; June 14-20, 2011.)
That rank stems from it generating $486.2 million in 2010, up 20% from $403 million in 2009.
@GlenKorstrom
Brett Hodson, Corix Group of Companies, smart meters, BC Hydro, Utilities Inc.
