Capstone Partners advised State Electric Corporation—a leading full-service electrical contractor in the Northeast—on its sale to E-J Group.
State Electric, located in Bedford, Massachusetts, has been in business since 1988 and is one of the most respected and trusted full-service electrical contractors in New England. They have a depth of experience and expertise, particularly in healthcare, life science, commercial, sports & entertainment, transportation, power and renewable energy, transmission, distribution, and substation work. For more information visit their website here.
The Capstone team did an excellent job representing State Electric throughout the process and finding the right buyer who aligned with our company’s core values. Capstone brought an in-depth industry expertise and a strategic approach to guide us through every phase. They were highly responsive and maintained a strong understanding of our goals and business model to ensure the best possible outcome for our ownership team and employees. Thanks to Capstone, we are confident in the future success of State Electric and look forward to growing the company responsibly.
“All our divisions operate under the same philosophy, safety first while delivering the best quality workmanship, utilizing prefabrication and lean construction solutions. We share the same client focused approach of doing business,” continued Koning. “Being part of the E-J Group provides more opportunities for our employees and strengthens what we offer to our clients.”
The transaction is expected to strengthen the combined business’ position in the Northeast, their offerings to clients, and opportunities for employees. State Electric is one of the most respected and trusted full-service electrical contractors in New England, and will retain its name, cultural identity, and current leadership.
“Importantly, the businesses share a very similar entrepreneurial culture and philosophy of quality, safety and client focus,” commented Ian Cookson, Managing Director at Capstone Partners.
“We are pleased to welcome State Electric to the E-J Family,” stated Anthony E. Mann, CEO of the E-J Group. “State’s culture of safety first, innovative solutions align with E-J’s and makes for an ideal new member of the organization.”
The E-J Group is an over $1 billion national electrical company headquartered in New York with offices in 5 states. They bring experience, expertise and a national reputation on projects that vary in size to over $300 million. Some of their typical installations include rail systems, transit facilities, office buildings, hospitals, power, renewable and clean energy, co-generation facilities, roadway and outdoor specialty, airports, industrial facilities, universities, sport stadiums, extra high voltage distribution, utility, and gas infrastructure. E-J has four family generations of practical expertise and a 125-year reputation for unparalleled integrity, quality, and service in the electrical field. Please visit their website here to learn more about the company.
The expert investment banking professionals on Capstone Partners’ Industrials Team work with leading middle market companies operating in the Electrical Contractors market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our Industrials Banking Team, contact us here.
