WASHINGTON (dpa-AFX) - Quanta Services Inc. (PWR) announced that it has acquired the business of Banister Pipelines Corp., a leading Canadian mainline pipeline construction and maintenance services contractor based in Nisku, Alberta.
The acquisition of Banister's business closed on November 21, 2014. As a Quanta company, the business will operate under the name Banister Pipelines Constructors Corp. The company is expected to generate approximately $350 million in revenue for the full year of 2015.
'We anticipate unprecedented levels of investment in pipeline and related infrastructure to occur in Canada over the next several years, driven by the development of the Canadian oil sands and unconventional shale formations. Banister's operations significantly enhance our ability to provide pipeline infrastructure solutions to our customers,' said Jim O'Neil, president and chief executive officer of Quanta Services.
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