Novinum, an Auburn, Wash.-based company that repairs aging underground power cables, today announced that it has acquired UtilX, a Kent, Wash.-based subsidiary of Willbros.
The combined company will employ more than 300 and serve more than 100 customers in the U.S., Canada, and Europe. It will also provide 30 percent of North American cable rehabilitation.
“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,” Glen Bertini, CEO of Novinium, said in a statement. “Failing cable is a top contributor to both rising utility costs and customer power outages, and together UtilX and Novinium can offer the safest, most cost effective solutions for cable rehabilitation, extending the effective cable lifespan by as much as 40 years.”
Novinum, founded in 2003, has a patented injection process that extends the life of cable up to 40 years. Learn more about the company here.
