Gold Express Corp.: The Newport Beach telecommunications...

Gold Express Corp.: The Newport Beach telecommunications company said it will pay $12 million in cash and stock to buy Phoenix Environmental Services Inc., an Atlanta engineering company that specializes in underground telecommunications and utility work. Clients of Phoenix, a privately held company, include Bell Atlantic, Westinghouse Savannah River Co., Colonial Pipeline and Georgia Power Co. Under the terms of the agreement, Phoenix’s founder and chief executive, Richard Scruggs, will remain with the company for five years. The purchase is the third for Gold Express in the past year. It previously purchased GlobalTelCom Inc., also based in Atlanta, and SmartCom International Inc., a Newport Beach company.