Strategic acquisition scales Company position in high-growth markets, including data centers

Company Website: https://centuri.com
PHOENIX -- (Business Wire)

Centuri Holdings, Inc. (NYSE: CTRI) (“Centuri” or the "Company"), a leading, North American utility and energy infrastructure services company, today announced it has completed the acquisition of J.J. White, Inc., a premier provider of mechanical and electrical construction services across power generation, data centers, and industrial end markets. J.J. White will become part of Centuri’s Riggs Distler operation, expanding core union electric capabilities across the Northeast and Mid-West.

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Centuri Acquires J.J. White, Expanding Industrial and Union Electric Capabilities

Founded in 1920 and headquartered in Philadelphia, Pennsylvania, J.J. White has nearly 1,000 employees, including more than 950 union field employees and an experienced team of frontline supervisors. The company provides in plant, mechanical, electrical, and HVAC construction services, supporting capital projects, ongoing maintenance, outage and turnaround work for its customers.

“This acquisition directly aligns with our Vision One Centuri strategy by accelerating our ability to meet growing customer demand for comprehensive, integrated solutions to complex mechanical, electrical, and industrial construction projects, including expanding our capability and scale within the attractive and growing data center market,” said Centuri President and CEO Christian Brown. “Adding J.J. White’s technical acumen, commercial reach, and skilled, highly qualified workforce, allows us to further expand our presence in attractive industrial end markets and ultimately deliver more value for our stakeholders.”

“Joining a company that shares our commitment to safety, innovation, and operational excellence is a win-win for our customers and our employees,” said J.J. White President James Daley. “Together we can provide the specialized expertise required to deliver essential enabling infrastructure to meet current and future energy demand and power innovation.”

J.J. White serves a broad range of industrial and commercial customers with $315 million in current contracted backlog as well as an identified $2.8B+ in pipeline opportunities, including several datacenter projects. Centuri anticipates annual gross profit contribution of more than $20 million as a result of the acquisition, with gross profit margins consistent with Centuri’s business, and reiterates its ~2x year-end 2026 leverage target.

Seale & Associates acted as exclusive financial advisor to Centuri on the acquisition transaction, and Foley & Lardner LLP provided outside legal counsel.

About Centuri

Centuri Holdings, Inc. is a strategic utility and energy infrastructure services company that partners with regulated utilities and energy providers to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada. www.centuri.com.

About J.J. White

J.J. White, Inc. is a multi-trade contractor founded in 1920, headquartered in Philadelphia, United States. The J.J. White team provides industrial maintenance and general, mechanical, electrical, and HVAC construction services underpinned by a commitment to safety, innovation, and quality. www.jjwhiteinc.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can often be identified by the use of words such as “will,” “predict,” “continue,” “forecast,” “expect,” “believe,” “anticipate,” “outlook,” “could,” “target,” “project,” “intend,” “plan,” “seek,” “estimate,” “should,” “may” and “assume,” as well as variations of such words and similar expressions referring to the future. The specific forward-looking statements made herein include (without limitation) statements regarding Centuri’s ability to further expand its presence in attractive industrial end markets and ultimately deliver more value for its stakeholders; the acquisition accelerating Centuri’s ability to meet growing customer demand for comprehensive, integrated solutions to complex mechanical, electrical, and industrial construction projects; Centuri’s ability to provide the specialized expertise required to deliver essential enabling infrastructure to meet current and future energy demand and power innovation after the acquisition; the current size of J.J. White’s backlog and pipeline opportunities; and Centuri’s anticipation for the acquisition to contribute more than $20 million in gross profit, with gross profit margins consistent with Centuri’s business. A number of important risks, uncertainties and other factors affecting the business and financial results of Centuri could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, capital market risks and the impact of general economic or industry conditions and those detailed from time to time in Centuri’s reports filed with the Securities and Exchange Commission (the “SEC”), including Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025. Factors that could cause actual results to differ also include (without limitation) those discussed in Centuri’s filings filed from time to time with the SEC. The statements in this press release are (i) made as of the date of this press release, even if subsequently made available by Centuri on its website or otherwise, and (ii) based on assumptions and assessments made by our management in light of their experience and perceptions of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Except to the extent required by applicable law, Centuri does not assume any obligation to update or revise the forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise. You are cautioned not to place undue reliance on these forward-looking statements.

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Contacts:

For Centuri Shareholders, contact:

Nate Tetlow
(480) 851-8426
Ntetlow@centuri.com

For Centuri media information, contact:

Jennifer Russo
(602) 781-6958
JRusso@Centuri.com

Source: Centuri Holdings, Inc.