Chugach Alaska Corp. recently entered into an agreement to acquire Rex Electric and Technologies. Headquartered in Chicago, Ill., Rex is a provider of electrical and technology services for general contractors and building owners.
“The addition of Rex to the Chugach family of companies will diversify and strengthen our commercial services portfolio, one of our key focus areas, which we believe will drive greater long-term stability and growth,” said Gabriel Kompkoff, CEO of Chugach. “We chose to partner with Rex not only because of their impressive leadership and service-based business model, but also because the Rex team reflects the same business philosophy, standards and values that are pillars of our own organization.”
In tandem with the acquisition, Dominic Sergi will retire from his role as chief executive officer and owner of Rex, while Michael A. Segreti will continue to lead the Rex team as president.
“Building on the strong foundation we have created at Rex, our partnership with Chugach will help us bring even more value and resources to our customers, employees and the community,” said Segreti. “The synergy between our companies was evident from the first time we met. We are proud to join the Chugach family.”
The acquisition closed Monday, Oct. 31.