D.A. Davidson & Co. Acts as Exclusive Financial Advisor to Novinium in Acquisition of UtilX Corporation from Willbros Group

D.A. Davidson & Co., a full-service investment firm with a nationwide investment banking practice, served as exclusive financial advisor to Novinium in its acquisition of UtilX Corporation from Willbros Group (NYSE:WG). As a result of this acquisition, Novinium now has over 100 customers and over 300 employees across all 50 states, Canada, and Europe. Together, Novinium and UtilX now provide about 30% of the North American cable rehabilitation, and 10% globally. The acquisition was financed with capital from existing investors, institutional private equity and a leading specialty finance provider.

“We are privileged to have served as the exclusive financial advisor to Novinium in its acquisition of UtilX,” said Mike Smith, managing director at D.A. Davidson. “This landmark transaction creates a major utility services company with significant scale and financial strength to grow and better serve customers,” said James Keckler, director of engineering and construction banking at D.A. Davidson.

“This acquisition will improve industry competition by providing a strong alternative to the capital intensive process of replacing underground utility power cables in order to maintain the world’s aging electrical distribution infrastructure,” said Glen Bertini, president and CEO of Novinium. “D.A. Davidson’s industry knowledge and tireless efforts assisting us with this complex transaction are greatly appreciated and resulted in a very successful outcome.”

About D.A. Davidson & Co.

D.A. Davidson & Co. is a full-service investment firm with operations across the country. D.A. Davidson’s Equity Capital Markets Group offers a full suite of investment banking, institutional sales, trading, research and corporate services. D.A. Davidson’s investment banking team provides merger and acquisition services, strategic advisory and access to public and private capital markets. In addition, the firm’s industry-driven research teams offer award-winning research and are supported by a dedicated group of sales and trading professionals.

The Equity Capital Markets Group is based in Portland, Ore., and operates from offices in Baltimore; Boston; Chicago; Denver; Great Falls, Mont.; Minneapolis; New York; Orange County, Calif.; Salt Lake City; and Seattle.

D.A. Davidson & Co. is one of four firms within D.A. Davidson Companies, an 80-year-old, employee-owned financial services holding company.