CE Power and Power Grid Engineering have merged to create a new holding company overseeing services for utilities and the electric system in 30 states, the companies announced.
The merger creates Qualus Power Services Corp. which will be based in Cincinnati, which is also CE Power’s headquarters. CE and Florida-based PGE will operate as wholly owned subsidiaries of Qualus and continue to provide services from their existing operations and under their existing brand names.
The name of the new holding company, Qualus, was chosen by the companies based on the Latin word for quality – “qualis”. Additionally, PGE’s expertise in transmission substation engineering and field services, including protection and control (P&C) services, will be combined with CE Power’s testing, commissioning, maintenance and turnkey engineering, procurement and construction (EPC) services to create a comprehensive sets of service offerings in the industry.
The combined business will operate from over 20 field and engineering locations, provide services in over 30 States and operate with over 650 employees, the vast majority of whom are power engineers, P&C field technicians or NETA-certified field technicians.
The management team of the holding company, Qualus Power Services, will be comprised of executives from both PGE and CE Power under the leadership of CEO Paul Cody. The operating subsidiaries, Power Grid Engineering and CE Power, will continue to operate as they do today with the employees of both companies continuing to play the same integral role in the success of the companies.
The ownership of the holding company is comprised of the existing owners of CE Power and PGE and their respective management teams, including significant ownership by the founders of PGE, Michael Wright, Andre Uribe and Glenn Durie.
“We are honored and excited to combine CE Power with Power Grid Engineering to form an industry leader” Cody said in a statement. “Led by Michael Wright, Andre Uribe and Glenn Durie, PGE has built the premier company providing transmission P&C engineering and field services with top-tier quality. Today’s merger adds CE Power’s broad power services capabilities to PGE’s P&C capabilities to provide expanded services and geographic reach for the clients of both companies.
“I believe our clients, employees and suppliers will benefit from this merger as we continue to grow as a premier independent power services provider. This expansion reinforces our unwavering commitment to our clients in providing quality work, a culture of safety & human performance, as well as our dedication to our employees’ continued professional growth and development,” he added.