×

Pernix Group, Inc. Appoints Executive Vice President

LOMBARD, Ill., Sept. 11, 2015 (GLOBE NEWSWIRE) -- Pernix Group, Inc. (OTCQB:PRXG) proudly announces the recent appointment of Mr. Grant G. McCullagh as Executive Vice President. He joined Pernix in 2014 as a Senior Advisor to the CEO, and has since played a major role in Pernix's strategic growth. Mr. McCullagh led the Pernix team responsible for the KBR Building Group (now known as BE&K Building Group) acquisition and brought the transaction to a resounding successful close. He was also instrumental in driving the dck Guam acquisition to a successful close. As Executive Vice President, Mr. McCullagh will be responsible for Corporate Strategy and M&A. In addition, he will serve as Chairman of BE&K Building Group to guide and help grow this subsidiary.

Mr. McCullagh has more than 30 years of executive experience in the engineering and construction sector with significant background in both US domestic and global markets across government services, complex technical and commercial facilities and numerous infrastructure sectors. He has served as CEO at multiple E&C large scale global companies, as well as Vice Chairman and Executive Vice President of AECOM, a Fortune 500 company during a highly formative growth period. Additionally, Mr. McCullagh served as an operating partner with several larger private equity firms working across the E&C sector occasionally taking on lead executive roles for PE backed investments.

"Grant is a very seasoned executive with extensive experience in operations, strategic planning, mergers and acquisitions, corporate finance, and P&L responsibility. He is also very well versed in almost every contract and project delivery methodology. His vision and contribution to Pernix has been instrumental to our recent transformation and I am very sure he'll continue to be an invaluable member of the executive team for years to come," stated Nidal Z. Zayed, CEO & President of Pernix. Mr. Zayed went on to say, "Grant will also be responsible for driving development of end market centers-of-excellence, which will enhance our market presence and advance shareholder value."

Mr. McCullagh has a Master of Business Administration from the University of Chicago, a Master of Architecture from the University of Pennsylvania, and a Bachelor of Science in Architecture from the University of Illinois at Champaign-Urbana.

Mr. McCullagh stated, "The rapidly expanding Pernix platform is very exciting in terms of continuing to build real market driven centers of excellence in existing and new high growth sectors, increasing geographic coverage and building critical mass all of which is creating a velocity in the business which drives success". He further added, "I'm confident in our team's abilities and I'm looking forward to seeing us continuing to grow."

About Pernix Group, Inc.

Pernix Group, Inc. is a construction company recognized by Engineering News Record for being one of the Top 50 American Contractors Working Abroad for the last four years in a row. Headquartered in Lombard, Illinois, Pernix has operations in the United States, Africa, the Middle East, and the Pacific Rim. Pernix has full-scale construction and management capabilities, in three primary markets: Federal Government, Commercial & Industrial, and Power. Recently, Pernix Group expanded its domestic Commercial & Industrial operations by acquiring KBR Building Group, now known as BE&K Building Group. Pernix also expanded its Pacific operations this year by acquiring assets of DCK Pacific Guam, now operating as Pernix Guam LLC.

Pernix Group, Inc. common stock is traded on the over-the-counter quotation board (OTCQB) under the symbol PRXG. Additional information is available at www.pernixgroup.com.

Forward-Looking Statement

Certain of the statements made in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the Company's filings with the U.S. Securities and Exchange Commission.

CONTACT: Investor Relations: investorrelations@pernixgroup.comSource:Pernix Group, Inc.