TAHLEQUAH, Okla.—Cherokee Nation Businesses (CNB) 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 main...
