Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, recently announced the sale of its client, K.E.P. Electric, Inc., to IES Holdings, Inc. The acquisition closed Nov. 5, 2020, and details were not disclosed.
Established in 1994, K.E.P. Electric, Inc. (KEP) is a Batavia, Ohio based electrical contractor specializing in the design and installation of electrical systems for single-family housing and multi-family developments. With four offices serving customers in Ohio and Kentucky, the company had revenue of approximately $30 million in 2019.
Headquartered in Houston, IES Holdings, Inc. (IES) is a holding company with approximately 5,500 employees that owns and manages operating subsidiaries that provide electrical contracting and other infrastructure services to a variety of end markets, including data centers, residential housing, and commercial/industrial facilities.
KEP will become part of IES’s Residential segment and operate under the KEP name. IES’s Residential segment provides electrical installation services for single-family housing and multi-family apartment complexes.
“The acquisition of KEP continues our strategy to partner with proven management teams and expand into attractive growth markets,” said Dwayne Collier, president of IES’s residential segment in the press release. “Kevin Padgett, KEP’s founder and president, has built a strong business with a customer-centric focus on quality and execution. I am pleased to welcome Kevin and KEP’s over 80 team members to IES and we are excited to partner with the entire KEP team to take advantage of the growing markets in Greater Cincinnati, Columbus, Dayton, Kentucky, and beyond.”
