Simpson Thacher Represents Citigroup and JPMorgan in Pike Electric IPO
08.02.05
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Simpson Thacher recently represented Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. as lead underwriters in an initial public offering by Pike Electric Corporation, which maintains, upgrades and extends electric distribution and transmission powerlines for electric utilities, cooperatives and municipalities. Pike Electric offered approximately $140 million in common shares, and two selling stockholders, including financial sponsor Lindsay Goldberg & Bessemer, sold an additional $77 million.
Pike Electric serves over 150 customers across a 19-state region that stretches from Pennsylvania in the north to Florida in the southeast to Texas in the southwest. Pike Electric’s activities include maintenance and extension of overhead and underground powerlines, as well as restoration of powerlines following hurricanes and other storms.
The Simpson Thacher team on the transaction included Art Robinson, John Ericson, Carlos Montoya, Frederick Lee and Anthony McMahon (corporate); Mark Lab and Sean Cotton (NASD); Jonathan Cantor and Hallie Grainer (tax); Alvin Brown and Michael Richman (employee benefits); Adeeb Fadil and Noreen Lavan (environmental); and Mark Tibberts and Amy Beller (utilities regulatory).