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Choggiung Ltd. acquires majority ownership of Bristol Alliance of Companies

June 26, 2018

CONTACT
Travis Woods, Bristol Industries, LLC, President and Chief Executive Officer
907-563-0013 or twoods@bristol-companies.com

Choggiung Ltd. acquires majority ownership of Bristol Alliance of Companies

Bristol Bay Native Corporation (BBNC), an Alaska Native regional corporation, announced today that Choggiung Ltd. (Choggiung), a long-standing Alaska Native village corporation in the Bristol Bay region, acquired a majority ownership of the Bristol Alliance of Companies (Bristol), a group of companies providing construction, environmental and professional services to private and government clients. BBNC will retain a minority interest and will remain actively involved in the continued success of the Bristol companies.

The Small Business Administration (SBA) approved the change in ownership and the sale is scheduled to close on July 31, 2018.

“I am excited about the new partnership between Choggiung and BBNC leadership, and how Bristol’s work can contribute to their common goal of investing in the future of Native communities and the lives of shareholders,” said Travis Woods, President and Chief Executive Officer of Bristol Industries, LLC, who will continue to lead the Bristol companies. “Whether Bristol employees are renovating housing for the military, designing a new bridge in a remote Alaskan village, or exploring new opportunities, we remain deeply committed to safely delivering quality work for our clients as we have done for nearly 25 years.”

The groundbreaking partnership between Choggiung and BBNC reflects a new trajectory and strategic investment in the federal contracting market for Choggiung. Headquartered in Dillingham, Alaska, Choggiung serves approximately 2,100 shareholders, and it currently operates with business lines in commercial real estate, hospitality, and natural resource development.

“This investment shows our confidence in the Bristol Alliance of Companies’ management, the quality of work they do, and the future of this business,” said Cameron Poindexter, President and CEO of Choggiung Ltd. “On behalf of Choggiung’s Board of Directors and staff, I warmly welcome Bristol to the Choggiung family. We are all excited to unleash the potential this opportunity represents as we work to build our financial strength and provide benefits to our shareholders.”

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About Bristol: The Bristol Alliance of Companies provide a range of services, including engineering; civil and vertical construction; environmental remediation; fuel systems; range and unexploded ordnance response services; electrical and telecommunications services; and demolition and site preparation services throughout the U.S., its territories, and select international locations. Learn more at www.bristol-companies.com.

About Choggiung Ltd.: Choggiung Ltd. is a village corporation formed under the Alaska Native Claims Settlement Act. Based in Dillingham, Alaska, Choggiung is the largest village corporation in the Bristol Bay region serving approximately 2,100 shareholders. Learn more at www.choggiung.com.

About BBNC: Bristol Bay Native Corporation is a responsible Alaska Native investment corporation dedicated to the mission of “Enriching Our Native Way of Life.” Established through the Alaska Native Claims Settlement Act of 1971, BBNC works to protect the land in Bristol Bay, celebrate the legacy of its people, and enhance the lives of its shareholders. Learn more at www.bbnc.net.

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