Alaska Based Hot Wire, Inc. Acquired by Chenega Commercial Holdings, LLC.
ANCHORAGE, Alaska - Hot Wire, Inc. (Hot Wire) including its five Alaska based subsidiaries: Hot Wire Electric, Inc., Hot Wire Communications, Inc., Electric, Inc., Redi Electric, Inc. and Alaska Power & Communications, LLC (55%), have been acquired by Chenega Commercial Holdings, LLC, a subsidiary of the Chenega Corporation.
Hot Wire and its subsidiaries have been providing superior commercial and residential, electrical & telecommunications contracting services since 1960, with extensive experience in both private and government construction throughout the United States and internationally. Hot Wire’s companies have worked on numerous design/build projects across the state of Alaska providing services to clients such as U.S. Army Corps of Engineers (Elmendorf AFB, Ft. Richardson, Fort Wainwright, Clear Air Force Base, Fort Greely, Eielson AFB), Providence Alaska Medical Center, Alaska Center for the Performing Arts, FedEx, State of Alaska, Municipality of Anchorage, University of Alaska Anchorage and Fairbanks.
“We are pleased to be a part of the Chenega family of companies,” remarked long-time Hot Wire President & CEO, Troy Smith, ”This acquisition positions Hot Wire for its next stage of growth. While Hot Wire’s companies will continue to be managed, and operate much in the same capacity as in the past, we now have the added advantage of being owned by a diverse Alaska Native Corporation, of proven success in the professional services marketplace.”
“Strategically, this acquisition broadens the Corporation’s offerings in the commercial contracting sector and within our home state,” explained Chenega Corporation President & CEO, Charles W. Totemoff, “We are excited about this expansion of our capabilities and heartily welcome Hot Wire and its employees and partners into the Chenega Corporate family.”
Posted: March 7, 2012