Electrical Services Acquisitions in 2020

Assemblin, a Triton IV portfolio company, has signed an agreement to acquire Fidelix Holding Oy and its subsidiaries to strengthen Assemblin's building automation capabilities and expand its position in the Finnish market. Fidelix, founded in 2002, is a Nordic building-automation manufacturer and service provider with annual sales above SEK 540 million and approximately 360 employees. The transaction is subject to competition authority approval.

ADT Commercial acquired CLS Technology, Inc., a Katy, Texas-based security and fire-life-safety integrator, in a deal that closed on December 2, 2020. The acquisition expands ADT Commercial's commercial integration footprint and deepens its fire and life-safety capabilities in the Houston market; financial terms were not disclosed.

ICS Holdings, a portfolio company of Stone Arch Capital, has acquired Knoxville-based Funderburk Electrical Services. FourBridges Capital advised Funderburk on the transaction; founder Jack Funderburk will retain an equity interest and COO Earl Norman will continue to lead the business reporting to ICS CEO Steve Lyon.

Kinzie Capital Partners, alongside co-investor Patriot Capital and Chelsea Lighting's management team, acquired Chelsea Lighting NYC, LLC, a New York–based lighting and lighting-controls distributor. The deal positions Chelsea to expand its national footprint and accelerate its Power-over-Ethernet (PoE) and lighting controls capabilities while management retains significant ownership.

Brixey & Meyer Capital (BMC) acquired Access Control Systems (ACS), a Nashville-based value-added distributor, integrator and installer of access control, gate automation, parking control and surveillance systems. The company was acquired from founders Dewayne and Allison Clayton; ACS will be led operationally by Dewayne Clayton with Chad Colony named CEO to drive strategic growth including acquisitions and geographic expansion.

Chicago-based private equity firm Wind Point Partners has acquired Corbett Technology Solutions, Inc. (CTSI), a Chantilly, Virginia–headquartered systems integrator of engineered low-voltage communications, audiovisual, life‑safety and security solutions. Tower Arch Capital, which previously owned CTSI, sold the company to Wind Point; CTSI management led by CEO Gino Ruta will remain and partner with Wind Point to expand capabilities and geographic reach through organic growth and acquisitions.

Bravas LLC, a national luxury smart-home integrator based in Overland Park, Kansas, has acquired Residential Systems, Inc., a Denver-based home-technology firm. The business will operate as Bravas Colorado, expanding Bravas' footprint in the Rocky Mountain region as an add-on to its platform.

Unified Power, a national critical power services platform based in Terrell, Texas, has acquired Power BackUPS of Graham, North Carolina as the company's fourteenth strategic addition. The acquisition expands Unified Power's capabilities and presence in the eastern United States and brings the consolidated group's headcount to over 250 employees across the U.S.

GenNx360 Capital Partners' portfolio company GenServe has acquired Atlantic Switch and Generator (ASG) of Pennsauken, New Jersey. The add-on expands GenServe's repair, maintenance, sales and rental capabilities in southern New Jersey and supports further expansion into nearby states such as Delaware and Maryland.

Cranston-based Delta Electro Power acquired electrical contractor JJ McNamara & Son effective March 1, 2020. The acquisition brings a team of licensed electricians into Delta to expand its electrical service capabilities and support the company's strategic growth and diversification plan across the New England market.

IES Holdings, Inc. acquired all equity interests in Aerial Lighting & Electric, Inc., a Naugatuck, Connecticut-based electrical contractor specializing in multi-family residential electrical systems. Aerial, which had approximately $24 million in 2019 revenue and over 60 employees, will join IES's Residential segment to strengthen and expand IES's presence in the Northeast and Mid-Atlantic.

Comfort Systems USA, Inc. (NYSE: FIX) has entered into a definitive agreement to acquire Starr Electric Company, Inc., a Greensboro, North Carolina-headquartered electrical contractor. Starr — which has offices across North Carolina and in Columbia, South Carolina — is expected to contribute approximately $90–$100 million of annualized revenue and will expand Comfort Systems' modular/off-site construction and electrical capabilities.