Pilot Wave Sells Its Portfolio Company, Connect Atlantic Utility Services, To Centuri Holdings; Terms Undisclosed

Pilot Wave Holdings Management, LLC ("Pilot Wave") today announced the sale of its portfolio company, Connect Atlantic Utility Services ("CAUS" or "Connect Atlantic"), to Centuri Holdings, Inc. ("Centuri"), a leading North American utility-infrastructure services provider.

Pilot Wave acquired Connect Atlantic with the goal of strengthening operations, accelerating growth, and positioning the business for long-term scale in electric transmission, distribution, and storm-restoration markets across Atlantic Canada and into the United States. Through hands-on collaboration with the CAUS leadership team, significant operational improvements and strategic expansion were achieved.

Centuri will integrate Connect Atlantic into its Canadian operations to further expand its capabilities and regional reach. This outcome is a strong validation of its investment model, which combines deep operational engagement with targeted technology innovation.