Electrical Services Acquisitions in 2022

Rapid Fire Safety & Security, a Concentric Equity Partners-backed platform, has acquired Pacific Auxiliary Fire Alarm Company (PAFA), a San Francisco-based provider of commercial fire alarm design, installation, testing, maintenance and monitoring. The deal — Rapid Fire's second add-on since launching the platform — expands its presence into Northern California while the seller, third-generation owner Derek Shackley, will remain in a leadership role.

Orion Energy Systems (Orion Lighting) has acquired Voltrek, LLC, a Massachusetts-based provider of turnkey EV charging station solutions, installation and maintenance services. Voltrek generated approximately $4.8M in 2021 revenue, manages 3,500+ charging ports, and will operate as an independent brand within Orion to enable cross-selling of EV charging services alongside Orion's LED lighting and electrical maintenance offerings.

Green Mountain Electric Supply (GMES) acquired Vanderhoof Electric Supply, Inc. (d/b/a Falcone Electric), a Batavia, New York-based electrical wholesaler and retailer; the transaction closed October 3, 2022. Generational Equity advised Falcone Electric on the sale as GMES continues to expand its footprint and service capabilities across New York and New England.

Corbel Capital Partners closed a structured preferred equity investment in Tennyson Electric Inc. to support the company’s continued growth. Tennyson Electric, a union-based electrical contractor headquartered in Livermore, California, performs public works and private electrical projects across the Bay Area, including traffic signals, street lighting and fiber communications.

Rotunda Capital Partners has invested in Canter Power Systems, a Greensboro-based residential generator installer, creating a new platform investment and positioning the company for geographic expansion, new product categories (including battery/solar), and add-on acquisitions. Founder Ken Canter will remain as a special advisor while third-generation family leader Brian Lopatka will serve as CEO.

Sciens Building Solutions, a Carlyle-backed holding company focused on fire detection and security services, has acquired Maryland-based LS Systems. The add-on expands Sciens' footprint into the greater Baltimore / Mid-Atlantic region and enhances its capabilities in fire protection, electronic security, and emergency communications with a team of over 90 professionals.

SunGrid Holdings, an affiliate of Hull Street Energy, has acquired Black Electric Inc., an electrical contracting firm based in Fishkill, New York. The acquisition expands SunGrid’s northeastern U.S. footprint and adds local electrical contracting capability to support battery energy storage system (BESS) projects across New York.

Rackmount Solutions, a portfolio company of Baymark Partners, acquired Challenge Technology, Inc., a Colorado-based provider of power quality products, consulting and maintenance services. The add-on transaction closed on August 31, 2022 and expands Rackmount/Baymark's capabilities and regional presence in the Rocky Mountain market.

RESA Power, a portfolio company of Investcorp, has acquired High Energy Electrical Testing, Inc. (HEET), a NETA-accredited electrical testing and commissioning firm based in Farmingdale, New Jersey. The acquisition expands RESA Power's footprint in the Mid-Atlantic — bringing HEET into RESA's network as its 28th location and broadening the firm's service offering in the region.

Sciens Building Solutions, a San Francisco-based platform backed by The Carlyle Group, has acquired San Antonio, Texas-based Fire Alarm Control Systems, Inc. (FACS). The acquisition is an add-on to Sciens' fire detection and integrated solutions platform and begins the company's expansion into the Texas market.

Convergint, a global systems integrator, has acquired Northern California-based security systems integrator Ojo Technology Inc. The deal expands Convergint's West Coast presence and strengthens its capabilities in the state, local, education, and transportation markets.

Lynx Equity Limited, a Toronto-based private equity firm, acquired Granite Electric Ltd., a Calgary-based electrical and fiber optic contracting company. The founder, Christopher Troy, sold the business in preparation for retirement and will remain involved for a transition period; BDC Capital provided acquisition financing.

Corbett Technology Solutions, Inc. (CTSI), a portfolio company of Wind Point Partners, has acquired Firecom, the largest privately held fire alarm company in New York City. The add-on expands CTSI's fire and life safety capabilities and geographic reach, enabling cross-selling of CTSI's central station monitoring, security, audiovisual, and other low-voltage solutions to Firecom customers.

Sciens Building Solutions, a San Francisco-based building-systems platform backed by The Carlyle Group, has acquired Absolute Protective Systems, a Piscataway, New Jersey fire protection and security systems integrator. The transaction is an add-on to Sciens' North American platform to expand its capabilities and presence in the Northeast U.S., with Absolute partnering closely with Sciens' Philadelphia-area division, Electronic Security Solutions.

CertaSite, a Riverside Company‑backed commercial fire protection and life safety platform based in Indianapolis, has acquired Heartland Fire & Security, a full‑service fire protection and security business headquartered in Davenport, Iowa. The founders/owners of Heartland (Matt Froeschle and Victor Obertance) remain with the business and all Heartland employees have joined CertaSite as part of the add‑on acquisition to expand CertaSite’s Midwest footprint and service capabilities.

HomeSquare, a Norwalk-based full-service home services provider, has acquired Amici Power Solution LLC, a generator sales and service business serving residential and small business customers in Fairfield County, CT and Westchester County, NY. The deal brings Amici’s owner and senior manager into HomeSquare to expand the company’s in-house electrical and backup-power capabilities.

Altus Fire and Life Safety, a platform company backed by AE Industrial Partners, has acquired BK Systems, Inc., a Pembroke, New Hampshire-based provider of installation, monitoring and repair services for fire alarm, suppression and security systems. BK Systems' founder Karl Klardie and his daughter Beth Mortell retain a minority stake; terms were not disclosed. The deal is an add-on to the Altus platform and expands its presence and Honeywell NOTIFIER ESD capability across Northern New England.

CUSITech LLC, through its CUSI Electric division, has acquired Colorado Springs-based electrical contractor Systems Electric, adding 37 employees and expanding CUSI's commercial electrical, EV charging, medical lab and UPS installation capabilities. The deal is CUSI's fourth acquisition in under a year and strengthens the company's vertically integrated service offering and national footprint.

Sciens Building Solutions has acquired Mira Loma, California–based Time & Alarm Systems (TAS), adding the low-voltage integrator to its fire-life safety and security platform. Backed by The Carlyle Group, Sciens said the acquisition expands its California footprint—giving TAS access to Sciens’ national resources and capital to support regional growth.

Concentric, LLC, an OnPoint Group company, has acquired Mesa Technical Associates, a provider of DC power systems and turn-key engineering, installation and service for mission-critical infrastructure. The deal expands Concentric's critical power footprint into New York and the Northeastern U.S. while adding Mesa's technical talent and capabilities serving utilities, telecommunications and energy storage markets.

Sundog Capital has completed its first investment by combining three electrical contracting businesses—Stryker Electrical Contracting, Edge Electric, and Bay Area Electric—into a new platform called Stryker Electric. White Wolf Private Credit provided financing support (senior term loan, preferred equity co-investment and minority common equity co-investment) to back the platform formation; management (Scott Eccleston et al.) will continue to lead the combined business.

Valedo Partners III AB has invested in eight businesses to create Eltera Gruppen, a full-service electrical installation and maintenance group operating through 16 branches across Norway with combined revenues of around 1 billion NOK. Founders, board members and employees co-invested alongside Valedo; financial terms were not disclosed.

Mitsubishi Electric Power Products, Inc. (MEPPI) has acquired Computer Protection Technology (CPT), a leading critical power service and solutions provider in Southern California. CPT will operate as a service branch of MEPPI, preserving its Southern California base while expanding MEPPI's critical power service capabilities to better serve mission-critical customers.

IMB Partners has made a majority growth investment in Carr & Duff, a Huntingdon Valley, Pennsylvania-based specialty electrical construction contractor; the Duff family will remain involved and retain meaningful ownership. Gemspring Capital provided a strategic minority equity investment to support IMB's transaction, while MidCap Financial provided senior debt financing.

Corbett Technology Solutions, Inc. (CTSI), a portfolio company of Wind Point Partners, has acquired Enterprise Security Solutions (ESS), a security systems integrator headquartered in Ashburn, Virginia. The add-on strengthens CTSI's security integration capabilities and expands its data center, utilities, and government customer base.

Cross-Fire & Security Co., a life-safety platform backed by AE Industrial Partners, has acquired Adcock's Systems LLC, a Waldorf, Maryland-based fire alarm, electrical and sprinkler contractor. The add-on expands Cross-Fire's geographic footprint into the Washington, D.C. market and adds sprinkler capabilities; terms were not disclosed and Adcock's existing management will remain in place.

Strada Services, a provider of residential electric, air conditioning, security and smart‑home services, has acquired L&M Electric, Inc., a residential electrical installation company founded in 2009. The deal expands Strada's footprint across the U.S. Southeast (adding Georgia, Alabama, South Carolina, Tennessee and North Carolina) and enables L&M to broaden its service offering to include A/C, security and smart‑home services; financial terms were not disclosed.

Ramphastos Investments has become a major shareholder in Opcharge, a Dutch provider of public and semi-public EV charging installation and management solutions. The capital injection will support Opcharge's ambitious growth plans in the Netherlands and internationally; financial terms were not disclosed.

Generational Equity advised Automation Specialists, Inc. on the sale of the company to its employees in a transaction that closed February 4, 2022. Automation Specialists, based in Tucson, Arizona, provides end-to-end home automation and low-voltage contracting services including audio/video, climate control, lighting, and security.

Eaglestone, LLC, a portfolio company of Aterian Investment Partners, has acquired Commonwealth Electrical Technologies (CET) of Worcester, Massachusetts. Capstone Partners advised CET on the transaction; terms were not disclosed. The acquisition expands Eaglestone's MEP capabilities and Northeast commercial relationships, adding CET's expertise in electrical contracting, solar, energy-efficiency and EV charging services.

Corbett Technology Solutions, Inc. (CTSI), a Wind Point Partners portfolio company, has acquired Systems Electronics, Inc., a Knightdale, North Carolina-based communications, safety, and security systems integrator. The add-on expands CTSI’s healthcare critical communications, fire and security capabilities and strengthens its North Carolina and southern Virginia footprint.

Access Control Systems (ACS), a Brixey & Meyer Capital–backed system integrator headquartered in Nashville, acquired Access Control Technologies (ACT), a Central Florida installer of automated gate systems headquartered in Orlando. The deal was sourced from Mike Knarreborg and his partners and is intended to expand ACS’s Florida presence, add capabilities, and accelerate ACT’s growth.

Wrench Group, a national home services platform, has acquired Maine Home Services, a Bay Area electrical services provider. Maine will operate under the Service Champions umbrella to expand Wrench’s electrical capabilities and strengthen its presence in the San Jose/Bay Area market; terms were not disclosed.

Orion Energy Systems, a publicly traded provider of energy-efficient LED lighting and maintenance solutions, acquired Stay-Lite Lighting, a nationwide lighting and electrical maintenance service provider. The deal adds Stay-Lite's self-performing capabilities across 15 states, established retail customer relationships and about $9 million in annual revenue to accelerate growth of Orion's Maintenance Services business.

MYR Group Inc., through its Canadian subsidiary MYR Group Construction Canada, Ltd., acquired all issued and outstanding shares of Powerline Plus Ltd. and its affiliate (the "Powerline Plus Companies"). Powerline Plus is a Toronto‑headquartered full‑service electrical distribution construction company with combined average annual revenues of about $80 million; the acquisition expands MYR's transmission & distribution capabilities and geographic reach in Canada.

L&D Electric, an Aurora, Colorado-based electrical contractor founded in 2007, has been acquired by Series 1 Acquisitions, LLC. SDR Ventures served as exclusive sell-side advisor; the company specializes in commercial and residential wiring and works with custom home builders, multi-family apartment complexes, and large commercial developers in the greater Denver market.