RICHMOND, Virginia – PowerTeam Services, LLC has acquired Big Lake pipeline transmission contractor from Minnesota Limited’s parent company, CenterPoint Energy, Inc. PowerTeam has also acquired Miller Pipeline of Indianapolis, Indiana.
The two companies were acquired for $850 million in cash.
Miller Pipeline and Minnesota Limited are two of the premier natural gas distribution and transmission pipeline contractors in the United States, providing services to customers in 35 states. In 2019, both Miller Pipeline and Minnesota Limited were acquired by CenterPoint Energy in the CenterPoint Energy-Vectren Corporation merger.
The sale is anticipated to be completed in the second quarter of 2020,