FMI Capital Advisors Announces Sale of PayneCrest Electric to Primoris Services Corporation
FMI Capital Advisors is pleased to announce the sale of PayneCrest Electric, Inc. (PayneCrest) to Primoris Services Corporation (Primoris). FMI served as the exclusive financial advisor to PayneCrest for this transaction.
PayneCrest is a leading electrical construction and services provider supporting industrial, manufacturing and advanced facilities. Headquartered in St. Louis, Missouri, the union contractor delivers specialized electrical design, construction and maintenance solutions across diverse sectors. For more than 70 years, PayneCrest has maintained multi-decade relationships with its customers, demonstrating deep expertise in advanced electrical infrastructure across expanding end markets.
The acquisition increases the company’s exposure to the high-growth data center services market and expands opportunities for integrating its industrial and renewables businesses with complementary electrical construction capabilities.
“Joining Primoris is a tremendous opportunity for our employees and customers,” said Ryan Freeman, Chief Executive Officer of PayneCrest. “We look forward to building upon our legacy of delivering safe, high-quality performance on the most challenging projects. Joining our shared strengths with Primoris, we’re providing a catalyst for meaningful growth, enhanced resources and greater support for those we serve.”
Freeman adds, “The FMI Capital Advisors team brought an exceptional level of expertise, professionalism and commitment throughout this transaction. They understood what mattered most to our ownership group and ran a thoughtful, efficient process that resulted in an outstanding outcome for our company, employees and customers.”
About Primoris
Primoris Services Corporation is a leading provider of critical infrastructure services to the utility, energy, and renewables markets throughout the United States and Canada. Primoris delivers a range of engineering, construction, and maintenance capabilities that power, connect, and enhance society. On projects spanning utility-scale solar, renewables, power delivery, communications, power generation, and transportation infrastructure, Primoris offers unmatched value to its clients, a safe and entrepreneurial culture to its employees, and innovation and excellence to its communities. To learn more, visit http://www.prim.com and follow the Company on social media @PrimorisServicesCorporation.
About PayneCrest
For more than 70 years, PayneCrest has delivered complex electrical installations to the industrial, data center, power, and commercial markets. With over 600 employees, PayneCrest specializes in taking on complex, high-impact projects with a strong focus on safety, innovation, and collaboration. Headquartered in St. Louis, Missouri, PayneCrest’s work is rooted in the midwest region of the United States with national reach, delivering end-to-end solutions such as design/build, engineering, pre-construction, planning, prefabrication, and ongoing service and maintenance of electrical systems. To learn more, visit www.paynecrest.com.
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 Contact:
Alex Miller
Managing Director
[email protected]