Investment Banking
Exclusive Financial Advisor to Ryker
March 12, 2026
Oppenheimer & Co. Inc. acted as Exclusive Financial Advisor to Ryker on the divestiture of Duna Services, LLC and Ryker’s minority interest in KNX Utility Services, LLC to Aecon Utilities Group Inc., a subsidiary of Aecon Group Inc. (TSX: ARE)
Ryker Holdings Inc (“Ryker”) has divested Duna Services, LLC (“Duna Services”) and its subsidiaries Arc American, LLC and C.A. Advanced, LLC, and a 49% interest in KNX Utility Services, LLC (“KNX”) to Aecon Utilities Group Inc., a subsidiary of Aecon Group Inc. (“Aecon”) (TSX: ARE), for a base purchase price of $60 million with the potential for additional contingent proceeds.
Ryker is a provider of a diverse range of complementary utility infrastructure services, including construction, maintenance, and upgrading of transmission, distribution and substation infrastructure as well as emergency storm restoration services. Ryker is headquartered in Wakarusa, IN.
Duna Services and its subsidiaries, Arc American Inc. and C.A. Advanced Inc., provide underground and overhead distribution, transmission and substation maintenance, construction / upgrade and storm restoration. Duna Services is headquartered in Wakarusa, IN.
KNX is a certified women and minority-owned business enterprise with over a decade of experience providing emergency restoration and storm response services for electrical distribution and transmission construction work. KNX is headquartered in Rodney, MI.
Aecon is a North American construction and infrastructure development company delivering integrated solutions to both private and public sector clients. Aecon is headquartered in Toronto, Canada.
Industrials Investment Banking
Name:
Tim Zahrobsky
Title:Managing Director, Industrials
Name:
Drew Rossi
Title:Executive Director, Industrials
Name:
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