MDU Resources Group Inc., which has provided natural resources products and services since 1927, recently acquired Kansas City, Mo.-based Capital Electric Line Builders Inc. and Capital Electric Construction Co. Inc.
The privately held electrical contracting companies, with annual revenues of about $90 million, became part of Utility Services Inc., a wholly owned subsidiary of MDU Resources Group, Bismarck, N.D.
Capital Electric served as the prime contractor for such large-scale projects as the 200-acre Sprint World Headquarters in Overland Park, Kan. and the restoration of the historic Union Station in Kansas City, Mo.
Utility Services Inc., a diversified, full-service, electrical, gas, and communications design-build company, acquired 17 companies in the last three years. Ronald Tipton, president of Utility Services Inc., says that Capital Electric's expertise in line work and telecommunications complements the existing MDU contractors. With the acquisition of Capital Electric, Utility Services Inc. expects revenues to leap from $100 million in 1999 to $300 million in 2001.
Robert Doran III, president and CEO, founded Capital Electric in March 1957 as a family-owned business. Tipton says Doran will continue to lead the Capital Electric family of companies.
Capital Electric's headquarters will remain in Kansas City, Mo., and the company will continue to work on their existing projects.
