Calder Capital assists sale of Control Electric

Courtesy Calder Capital

An electrical contracting company was sold to a local investor with assistance from a mergers and acquisitions firm.

Calder Capital recently assisted in the sale of Grand Rapids-based Control Electric to an undisclosed individual investor.

Terms of the transaction were not disclosed.

Founded in 1985 by Steve Dalga, Control Electric provides residential, commercial and retail services in the West Michigan region. The company also owns a separate division under the name Power by C.E.I. which serves as an authorized dealer of Generac and Kohler generators.

Dalga selected Calder Capital as his exclusive M&A adviser to find a successor as he transitions to retirement. Scott Nicholson, adviser at Calder, served as the lead project manager.

“Scott was very helpful throughout the whole process and Calder was able to provide a number of qualified buyers to choose from,” Dalga said. “The new owner has previous experience within the field and is committed to keeping the business family owned and operated, which is what I was looking for.”

According to Calder, the new owner will maintain a hands-on role in Control Electric’s day-to-day operations and apply his previous management experience and knowledge of technical trades.

Nicholson said it was a pleasure to work with Dalga in this deal.

“Steve and the buyer got along well from the start and worked out a great transition plan,” Nicholson said. “The buyer is well-suited to further grow the company, and Steve can now enter his well-deserved retirement.”

Control Electric has been family owned and operated throughout its 37 years in business, and Calder Capital emphasized it will continue to remain this way with the new ownership transition.