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- By Tribal Business News Staff
- Energy | Environment
Cherokee Nation Businesses has expanded into utility infrastructure through a minority investment in Front Line Power Construction, marking the tribally owned company’s first direct entry into the sector.
Tulsa, Okla.-based CNB partnered with Ariel Alternatives to acquire the Texas-based electrical contractor. Ariel Alternatives is the majority owner, with CNB serving as a strategic minority co-investor. Terms were not disclosed. Truist Securities served as lead debt financer and M&A advisor to Ariel Alternatives.
Front Line Power, based in Rosharon, Texas, provides maintenance, repair, upgrade and construction services supporting the electric utility grid across the Houston metro area and surrounding counties. The transaction positions CNB to participate in growing demand for grid modernization in Texas and the Southwest, driven by aging infrastructure, weather-related events and population growth.
“We remain dedicated to fostering growth and a sustainable economic advantage for our tribe and its businesses,” CNB Chief Executive Officer Chuck Garrett said in a statement. “This partnership reflects our continued commitment to responsibly stewarding the collective wealth of the Cherokee Nation through diversified, long-term investments that generate durable value.”
CNB is the tribally owned holding company of the Cherokee Nation, the largest Native American tribe in the United States. The company employs more than 11,000 people across more than 45 companies within four business units, generating more than $2.2 billion in annual revenue. In 2023, its operations contributed a $3.14 billion economic impact to the Cherokee Nation, according to the company.
Cherokee Investment Management, a CNB division, oversees long-term growth investments intended to support tribal healthcare, education, job creation and economic development.
