ANCHORAGE, AK – Olgoonik Development LLC, with full authorization from the Olgoonik Board of Directors, acquired American Electric Company LLC on April 30, 2020. American Electric is one of the largest electrical contractors in the state of Hawaii with extensive experience in electrical construction projects for government facilities, industrial operations, and commercial properties. Olgoonik’s leadership is confident that American Electric brings new opportunity to the Olgoonik family of companies and, importantly, fits within Olgoonik’s culture of honesty and integrity in all business operations.
Ray Hose’, who has served in a leadership role at American Electric for several years, will continue as president of the company, now a subsidiary company under the umbrella of Olgoonik Development. Olgoonik Development president Marty Miksch said, “We are not envisioning any major changes and only hope to enhance upon the successful operations American Electric has been able to execute over the years.”
Olgoonik’s CEO and president, Hugh Patkotak, Sr., said, “Growing Olgoonik through acquisitions has been part of our strategic plan, and it’s a dream come true that we were able to make our second acquisition in corporation history,” said Patkotak, Sr. “We have done our due diligence and believe American Electric, and its employees, are a good investment.” When COVID-19 travel restrictions are eased, Patkotak, Sr., along with Olgoonik COO Mike Mora, and CFO Dixie Retherford will look forward to joining Miksch in Hawaii to welcome Hose’ and the team at American Electric in person to the Olgoonik family of companies.
About Olgoonik – Olgoonik Corporation was established in 1973 as an Alaska Native Corporation by the Iñupiat elders of Wainwright, Alaska, under the Alaska Native Claims Settlement Act of 1971. Olgoonik Development LLC was formed as a holding company of Olgoonik Corporation in 1999 and currently manages 18 Olgoonik subsidiaries providing construction, logistics, security, and environmental and engineering services to U.S. government and commercial clients around the globe.
About American Electric – American Electric is an electrical contracting company currently operating in Oahu, Hilo, Maui, and Kauai, active in design-build, construction, high voltage projects, controls, telecom services, and alternative energy projects throughout Hawaii.