FMI Advises NuWave Energy Solutions in Sale to Commonwealth Electrical Technologies
FMI Capital Advisors is pleased to announce that NuWave Energy Solutions (NuWave), a full-service design-build energy efficiency company based in Norwell, Massachusetts, has been acquired by Commonwealth Electrical Technologies (CET), a leading electrical contractor and energy solutions company in the Northeast. This strategic move marks the first transaction for CET under Broad Sky Partners’ ownership, a majority investor since February 2025. FMI Capital Advisors served as the exclusive financial advisor to NuWave for this transaction.
Founded in 2019 by Ryan Blair, NuWave serves the sustainability and energy efficiency needs of customers in the commercial, industrial and institutional markets across the United States. NuWave’s team brings over thirty years of experience in sustainability and energy conservation, helping customers reduce energy usage through cost-effective energy conservation, electrification and renewable energy projects.
“We are excited to join Commonwealth Electrical Technologies and continue our mission together on a larger scale,” said Blair, CEO and President of NuWave Energy Solutions. “Our shared values and expertise will enable us to provide even greater impact for our customers.”
The acquisition expands CET’s reach and strengthens its ability to deliver integrated solutions across multiple markets. By joining forces with NuWave, CET gains a highly experienced team that has already earned a reputation for innovation and reliability in energy conservation.
“This acquisition marks an important step in CET’s growth journey, reinforcing our vision for sustainable growth and significantly increasing our service offering,” said John J. Duquette, CEO of Commonwealth Electrical Technologies. “Ryan and his team are highly respected in the industry, and together we will deliver even more comprehensive energy solutions to our clients.”
Terms of the transaction were not disclosed. Greenberg Traurig LLP served as legal advisor to CET on the transaction. Baker, Braverman and Barbadoro was the legal advisor to NuWave Energy Solutions. In February 2025, Broad Sky Partners partnered with CET as the firm’s majority investor.
ABOUT NUWAVE
NuWave is a full-service energy efficiency firm dedicated to providing cost-effective retrofit solutions. The company designs, implements, and maintains sustainable solutions for high performing buildings using innovative technologies. For more information, visit https://nuwave.energy/
ABOUT COMMONWEALTH ELECTRICAL TECHNOLOGIES
Commonwealth Electrical Technologies is a leading commercial electrical contractor based in the Northeast. The company specializes in providing Energy Efficiency, EV Charging, Solar and Electrical Construction services to commercial, industrial and institutional facilities. Commonwealth Electrical Technologies was founded in 2008 and has approximately 140 employees. For more information, visit http://www.comelectrical.com and follow them on LinkedIn, Facebook, and YouTube.
ABOUT FMI CAPITAL ADVISORS
FMI Capital Advisors has dedicated and 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