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UIL’s XCelecom Buys Md. Contractor
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Business New Haven
12/10/2001
By: BNH
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NEW HAVEN - XCelecom Inc., a non-regulated business unit of UIL Holdings Corp. (NYSE: UIL) and a provider of specialty contracting and voice-data-video network system integration services, has acquired J.E. Richards Electrical Contractors Inc. of Beltsville, Md. The acquisition is XCelecom's tenth to date as it builds a network of contracting and services companies throughout the Eastern US. Richards continues the reach of services into the Washington D.C. and Baltimore markets.
J.E. Richards provides of electrical construction services with annual revenues of $35 million and a reputation for high quality electrical construction services since 1983. Richards' “ability to serve customers in the Washington D.C., Baltimore, and northern Virginia markets, positions XCelecom in an important market that we have been interested in for some time,'' said Dennis Dugan, the unit's president. “Our fourth acquisition this year, Richards is well-respected and is exceptionally well-positioned to take advantage of the robust biomedical construction market that is currently underway in that region.”
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