Initial Formation
In the 1990s, the electrical contracting business was highly fragmented, populated by more than 50,000 companies, the vast majority of which were small, owner-operated enterprises. Deregulation in the electric utility industries in a number of states prompted utilities to become more cost-competitive, leading to the outsourcing of infrastructure work to contractors who could do the job more efficiently. Moreover, much of the transmission and distribution infrastructure in the United States was aging and in need of repair or replacement. In 1997, Colson spearheaded the combination of four contractors to form Quanta Services, Inc., which then established its headquarters in Houston with Colson as its head. In addition to PAR, Quanta consisted of Union Power Construction Co., Trans Tech Electric Inc., and Potelco, Inc.
Read more about this topic: Quanta Services
Famous quotes containing the words initial and/or formation:
“Capital is a result of labor, and is used by labor to assist it in further production. Labor is the active and initial force, and labor is therefore the employer of capital.”
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