April 29, 2019 – Rokstad Holdings Corporation (“Rokstad”), a privately held company that provides power line construction and maintenance services to customers across North America, today announced the closing of a term loan of up to $25 million from Crown Capital Partner Funding, LP (“Crown Partners Fund”). Crown Partners Fund is an investment fund that Crown Capital Partners Inc. (“Crown Capital”), a capital partner to entrepreneurs and growth businesses, manages and holds a 37% interest (TSX: CRWN).
“We are excited to share this news with our industry partners, vendors, clients and staff,” said Rokstad Power’s Chief Executive Officer Aaron Rokstad. “Since the re-acquisition of the business from our former partners, we have experienced a growing pipeline of new projects and opportunities, and this new funding from Crown Capital provides additional financial strength and flexibility to support this growth.”
“Rokstad is a well-established business with a diversified base of large, long-standing utility customers,” said Chris Johnson, Crown Capital President & CEO. “The company has experienced very strong growth over the past several years as spending has increased significantly in its sector, driven by the aging transmission and distribution infrastructure, new technology and regulatory drivers. We are pleased to support the Rokstad team as they continue to capitalize on these trends and expand their business.”
Founded in 2008, Rokstad offers a full suite of power line services, including emergency and storm response, transmission and distribution line construction and maintenance and underground cable services. Rokstad is also a specialist in live line construction methods for distribution and transmission line projects. With operations throughout Canada and the United States, Rokstad has successfully grown from a mid-size contractor to one of the largest power line contractors in North America. The company’s largest markets are British Columbia, California and Arizona.
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Media Relations Contact
Natasha Netschay Davies