FMI Advises Commonwealth Electrical Technologies in Sale to Broad Sky Partners
FMI Capital Advisors is pleased to announce Commonwealth Electrical Technologies (CET), a leading electrical and energy solutions company in the Northeast, received a strategic investment from Broad Sky Partners. FMI Capital Advisors served as the exclusive financial advisor to CET for this transaction. Broad Sky Partners, a private equity firm that partners with leading middle-market companies providing essential services, will support CET in accelerating growth and broadening its service offerings within the electrical services and energy industries.
Founded in 2008 and headquartered in Worcester, Massachusetts, CET is an established provider of electrical solutions in the Northeast servicing customers within the utility, renewables, commercial and industrial end-markets. CET’s team of electricians and engineers provides a full range of services, including installation, maintenance and testing of commercial and utility solar systems, as well as renovation, new construction and electrical maintenance for commercial and industrial facilities. In addition, CET provides energy efficiency services and EV charging installation and maintenance programs as a preferred partner with utility companies.
The demand for skilled electrical technicians is poised to surge over the next decade, driven by aging infrastructure, the growth of renewable power generation, AI-driven power needs, reshoring of manufacturing and rapid electrification.
“For over a year, our team has studied the electrical services sector, focusing on businesses that enhance energy capacity and maintain critical infrastructure. We identified CET as a best-in-class business with exceptional growth potential. We look forward to working with John Duquette Jr. and the team to drive growth across all divisions, support investment in recruitment and training of electricians, and pursue strategic M&A,” said RJ David, Managing Director at Broad Sky Partners.
John Duquette Jr., Chief Executive Officer of CET, said, “This partnership marks an exciting new chapter for CET, reinforcing our vision and propelling us into our next phase of growth. As we continue to expand our geographic reach and services, we look forward to teaming up with Broad Sky Partners to build on our momentum.”
Dorian Alexandrescu, an industry veteran with 30+ years in the space, will be joining the Board of Directors as Executive Chairman. Terms of the transaction were not disclosed. Kirkland & Ellis LLP acted as legal advisor to CET.
ABOUT COMMONWEALTH ELECTRICAL TECHNOLOGIES
Commonwealth Electrical Technologies is a leading commercial electrical solutions provider based in the Northeast. The company specializes in providing energy efficiency, solar and electrical services to commercial and industrial facilities. Commonwealth Electrical Technologies was founded in 2008 and has approximately 125 employees. For more information, please visit http://www.comelectrical.com.
ABOUT BROAD SKY PARTNERS
Broad Sky Partners is a private equity firm that partners with leading middle market companies that provide essential services to business services end markets. The firm offers a differentiated approach to sector-focused, thematic investing and value creation. Its Portfolio Resource Group is dedicated to helping companies capitalize on growth opportunities. Broad Sky is based in New York City. To learn more, visit www.broadskypartners.com.
ABOUT FMI CAPITAL ADVISORS
FMI Capital Advisors has fully dedicated and deeply experienced investment banking teams advising clients on merger and acquisition (M&A) transactions across the built environment. We maximize outcomes for our clients through our deep market knowledge, strong technical expertise and an unparalleled network of industry relationships. For more information, visit fmicapitaladvisors.com.
FMI Capital Advisors Contacts:
Russell Clarke
Managing Director
[email protected]
303.398.7213
Emma Lowry
Vice President
[email protected]
303.398.7218