TekWorks Inc. Merges with Paladin Technologies Inc.
North American Integrators Combine Best-In-Class Resources, Forming Dominant Industry Alliance
SAN DIEGO, CA – January 10th, 2019 – Paladin Technologies Inc., (“Paladin Technologies”) announced the commencement of its expansion into the US market through the recent merger with TekWorks Inc., (“TekWorks”) headquartered in San Diego, CA. Effective January 1st, 2019, both organizations will work collaboratively to provide unmatched technology integration solutions, including design-build projects for security systems, audio visual, network cabling, data centers, and network services. With access to the depth of Paladin’s coast to coast resources, and over 40 years of industry growth, TekWorks will better serve clients while expanding to new market opportunities as a Paladin Technologies company.
Ted Reid, President of Paladin Technologies, stated, “I am excited to be able to work with the 200+ fantastic people of TekWorks in pursuing new opportunities and cross-pollinating best practices between the companies. TekWorks has had tremendous success in the market by being innovative in adopting proven, effective technologies and for having a laser-like focus on delivering on its promises. This transaction is about building our US platform and we are delighted that all TekWorks team members are committed to our merger.”
William Bourgeois, President of TekWorks, added, “As we reviewed our strategic options, it was clear that merging with Paladin Technologies was the right fit not only for our people, but also our clients. With over 13,000 employees in the Paladin group of companies, this is an entrepreneurial organization that focuses on promotion from within through people development programs. As a private entity, we have benefitted from being able to make long term investments for continuous improvement in our processes and this will no doubt continue after the merger with Paladin Technologies. This move is all about quality and building on our capability to service our clients even better.”
ROTH Capital Partners, LLC (“ROTH”) served as TekWorks financial advisor while Hahn Loeser & Parks LLP provided legal counsel. Morrison & Foerster LLP served as legal advisor to Paladin Technologies. Gerald Mars, Managing Director with ROTH, stated, “I couldn’t be happier for William, his employees, and the TekWorks’ customers. The opportunity TekWorks now has for cross-selling and geographic expansion with Paladin Technologies as a partner is unlimited.”
TekWorks will continue to operate as is under the TekWorks brand as a Paladin Technologies company. All existing office locations, phone numbers, and email addresses will remain the same as TekWorks integrates with the Paladin group of companies.
About Paladin Technologies Inc. (paladintechnologies.com)
Paladin Technologies emerged as the largest complex systems integrator in Canada, specializing in solutions including IP security, audio visual, low-voltage infrastructure, networking & wireless, unified communications, and monitoring. Driven by a strong corporate culture and a vision of innovation through teamwork, Paladin designs and deploys sophisticated systems technology for clients on a national scale, while providing premier local support.
About TekWorks Inc. (tekworks.com)
With offices serving all of Southern California, TekWorks employs over 200 talented and committed professionals dedicated to custom-crafting and installing technology solutions for companies requiring Network Cabling, Data Center, Outside Plant, Fiber Optics, Audio Visual, Physical Security, and Network Services. TekWorks handles every phase of a project. From conceptualization, through design and engineering, to installation and programming, we become the single point of contact.
About ROTH (roth.com)
ROTH is an investment banking firm dedicated to the small-cap public market and is headquartered in Newport Beach, CA. ROTH is a privately owned firm that has built a culture of success and innovation. Our approach is driven by our current principals, who are not only the owners of the business but most of whom have been with us for more than 20 years. Our goal has always been to service the needs of small-cap public companies better than anyone else.