Pilot Wave Holdings Management, LLC Announces Sale of Connect Atlantic Utility Services to Centuri Holdings, Inc.
Pilot Wave Holdings Management announced the sale of its portfolio company Connect Atlantic Utility Services to Centuri Holdings (CTRI) on November 20, 2025. Pilot Wave said it acquired Connect Atlantic to strengthen operations and scale in electric transmission, distribution and storm-restoration across Atlantic Canada and into the U.S.
During ownership Pilot Wave and CAUS leadership achieved operational improvements, spun off Detect Technologies (an AI inspection startup), and positioned Connect Atlantic for integration into Centuri's Canadian operations to expand regional capability.
Pilot Wave Holdings Management ha annunciato la vendita della sua Connect Atlantic Utility Services alla Centuri Holdings (CTRI) il 20 novembre 2025. Pilot Wave ha dichiarato di aver acquisito Connect Atlantic per rafforzare le operazioni e scalare nella trasmissione elettrica, distribuzione e ripristino durante tempeste attraverso l'Atlantico canadese e negli Stati Uniti.
Durante la proprietà, la leadership di Pilot Wave e CAUS ha ottenuto miglioramenti operativi, ha scorporato Detect Technologies (una startup di ispezione con IA) e ha posizionato Connect Atlantic per essere integrata nelle operazioni canadesi di Centuri per espandere la capacità regionale.
Pilot Wave Holdings Management anunció la venta de su empresa de cartera Connect Atlantic Utility Services a Centuri Holdings (CTRI) el 20 de noviembre de 2025. Pilot Wave dijo que adquirió Connect Atlantic para fortalecer las operaciones y escalar en la transmisión eléctrica, distribución y restauración de tormentas a través de Atlantic Canada y hacia EE. UU.
Durante la propiedad, la dirección de Pilot Wave y CAUS lograron mejoras operativas, escindieron Detect Technologies (una startup de inspección con IA) y posicionaron Connect Atlantic para su integración en las operaciones canadienses de Centuri para ampliar la capacidad regional.
Pilot Wave Holdings Management은 포트폴리오 회사인 Connect Atlantic Utility Services를 Centuri Holdings (CTRI)에 2025년 11월 20일에 매각했다고 발표했다. Pilot Wave는 Connect Atlantic를 인수하여 전력 송전, 배전 및 폭풍 복구를 강하게 강화하고 대서양 캐나다 및 미국으로 확장하려고 했다.
소유 기간 동안 Pilot Wave와 CAUS 리더십은 운영 개선을 달성했고, Detect Technologies를 분사했으며( AI 검사 스타트업), Connect Atlantic를 Centuri의 캐나다 사업에 통합해 지역 역량을 확장하기 위한 위치를 마련했다.
Pilot Wave Holdings Management a annoncé la vente de sa société de portefeuille Connect Atlantic Utility Services à Centuri Holdings (CTRI) le 20 novembre 2025. Pilot Wave a indiqué avoir acquis Connect Atlantic pour renforcer les opérations et se développer dans le transport d'électricité, la distribution et la restauration après tempêtes à travers l'Atlantique Canada et jusqu'aux États‑Unis.
Pendant la période de détention, la direction de Pilot Wave et CAUS ont réalisé des améliorations opérationnelles, ont scindé Detect Technologies (une startup d'inspection IA) et ont positionné Connect Atlantic pour être intégrée dans les opérations canadiennes de Centuri afin d'élargir la capacité régionale.
Pilot Wave Holdings Management kündigte den Verkauf seines Portfoliounternehmens Connect Atlantic Utility Services an Centuri Holdings (CTRI) am 20. November 2025 an. Pilot Wave sagte, es habe Connect Atlantic erworben, um die Betriebsabläufe zu stärken und im Bereich elektrische Übertragung, Verteilung und Sturmschädenbehebung über Atlantikkanada und in die USA zu skalieren.
Während der Eigentümerschaft erreichten Pilot Wave und CAUS-Führung operative Verbesserungen, schrieben Detect Technologies (eine KI-Inspektions-Startup) ab und positionierten Connect Atlantic für die Integration in Centuris kanadische Operationen, um die regionale Kapazität zu erweitern.
Pilot Wave Holdings Management أعلنت عن بيع شركتها ضمن المحفظة Connect Atlantic Utility Services إلى Centuri Holdings (CTRI) في 20 نوفمبر 2025. قالت Pilot Wave إنها اشترت Connect Atlantic من أجل تعزيز العمليات وتوسيع نطاق النقل الكهربائي، والتوزيع، واستعادة العواصف عبر أتلانتا كندا والولايات المتحدة.
خلال فترة الملكية، حققت قيادة Pilot Wave و CAUS تحسينات تشغيلية، وفصلت Detect Technologies (شركة ناشئة في مجال فحص الذكاء الاصطناعي)، ووضعوا Connect Atlantic ليكون مدمجاً في عمليات Centuri الكندية لتوسيع القدرة الإقليمية.
- Sale completed to Centuri on November 20, 2025
- Spin-off of Detect Technologies as an AI inspection company
- Connect Atlantic to be integrated into Centuri Canadian operations
- None.
Insights
Sale validates operational value‑creation and creates a tech spin‑out that may enhance strategic optionality for both buyer and seller.
Pilot Wave completed an exit by selling Connect Atlantic to Centuri, transferring a regional utility services platform into a larger North American operator. The transaction follows active operational improvement and geographic expansion efforts under Pilot Wave, and it includes the separation of Detect Technologies, an AI‑driven inspection business spun out from Connect Atlantic.
The deal links a traditional services exit with a technology spin‑out, which preserves the services revenue stream under Centuri while creating a standalone AI asset. Key dependencies include successful integration of Connect Atlantic into Centuri and clear commercialization paths for Detect Technologies. Watch for announcements about operational integration milestones and any commercial contracts or pilot deployments for Detect as concrete indicators of execution; those items will determine whether the combined outcome sustains the implied value creation.
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
As part of this partnership, Pilot Wave identified an opportunity inside CAUS to build a next-generation utility-inspection platform, ultimately leading the spin-off of Detect Technologies from Connect Atlantic. Detect is an AI-powered safety and infrastructure-inspection startup that helps utilities identify equipment defects before major failures or accidents occur. Its proprietary technology enables faster response, reduced operational risk, lower maintenance costs, and improved protection for workers and communities.
This spin-off represents a first-of-its-kind outcome: the acquisition of a traditional services business that catalyzed the creation of a world-class, AI-driven technology company. It underscores Pilot Wave's commitment to pairing operational excellence with innovative, technology-enabled value creation.
"We're proud of the progress Connect Atlantic has made and grateful for our partnership with the management team," said Afsheen Afshar, Founder of Pilot Wave. "We strengthened operations, expanded capabilities, and built a platform that is now well-positioned for accelerated growth under Centuri. The creation of Detect Technologies is another example of how operational collaboration can spark meaningful innovation."
John MacKinnon, President of Connect Atlantic, added: "Working with Pilot Wave helped position CAUS for long-term success. Joining Centuri will give our team additional resources and opportunities to continue serving our utility partners at the highest level."
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.
About Pilot Wave Holdings Management, LLC
Pilot Wave Holdings is the first acquisition firm dedicated to growing small businesses with bringing modern technology. Comprised of hybrid investment professionals, operators, and technologists, the team partners with exceptional management to grow businesses and help them continue to be competitive in the technological age. For further information, please contact: info@PilotWaveHoldings.com
About Connect Atlantic Utility Services
Connect Atlantic (CAUS) is a leading utility-services provider in
About Detect Technologies
Detect Technologies is a
About Centuri Holdings, Inc.
Centuri (NYSE: CTRI) is a North American utility-infrastructure services company that builds, maintains, and modernizes energy networks across the
Forward-Looking Statements
This release may contain forward-looking statements. Actual results may differ. Pilot Wave assumes no obligation to update such statements.
Media Contact: Lisa Belton, lisa.belton@pilotwaveholdings.com
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SOURCE Pilot Wave Holdings Management
FAQ
What did Pilot Wave announce about Connect Atlantic on November 20, 2025?
How will the Connect Atlantic sale affect Centuri (CTRI)?
What is Detect Technologies and how did it originate?
When was the transaction between Pilot Wave and Centuri announced for CTRI investors?
Will Centuri's acquisition of Connect Atlantic change service coverage?
