ACT Capital Advisors Advises Smith Electric Service on its Sale to ACCO Engineered Systems
Acquisition complements ACCO's California operations
SEATTLE, Aug. 14, 2019 /PRNewswire-PRWeb/ -- ACT Capital Advisors is pleased to announce the sale of Smith Electric Service (Smith) to ACCO Engineered Systems (ACCO). ACT acted as the advisor to Smith.
Smith provides quality subcontract work and specialty general construction services to Central California. The Company strives to provide in house, full spectrum and high-quality service. Smith's loyal, highly skilled work force, supervised by long-term experienced foremen and superintendents, utilize the team approach in managing the work of multiple trades on each job. In response to the changes in the construction industry over the last three decades, Smith has expanded its services to include 3D coordination, Design Build Services, Green Construction.
"The Central Coast has long been an interest to ACCO," said Ken Westphal, Chief Growth Officer for ACCO Engineered Systems. "Smith MEP is a perfect addition to our geographic coverage and complements our Northern and Southern California operations."
This move creates significant added resources and capabilities that will directly benefit customers in the market. By joining ACCO, Smith MEP gains the advantage of ACCO's significant design, project delivery, and financial resources.
"We are looking forward to what this means for the Smith team," said Michael Brannon, Smith MEP. "ACCO is a company we have looked up to due to what they have done in the Western U.S., and is an example of how a good company treats their customers and their people. It is a good fit for us culturally and will allow for us to grow the Smith brand."
ACT's Chairman, Robert Hild, and Trevor Hill, Associate, represented Smith in the transaction. Mr. Hild said, "It was important to Smith Electric Service to find the best fit in a buyer who would carry on what the Brannon family has built over the decades. I couldn't imagine a better fit in a buyer than ACCO Engineered Systems."
For more information on Smith Electric Service, please visit their website at http://www.smith-electric.com.
For more information on ACCO Engineered Systems, please visit their website at https://www.accoes.com.
About ACT – ACT Capital Advisors, LLC is a premier Mergers & Acquisitions (M&A) firm representing lower-middle-market companies across a variety of sectors and industries, including industrial manufacturing, information technology, construction, healthcare, aerospace, consumer staple/discretionary, oil and energy, as well as outsourced services. The firm provides strategic M&A and financial advice to closely held, family-owned, as well as private equity sponsored organizations and corporate shareholders that wish to sell all or a portion of their company, or conversely, a division, a product line, or a subsidiary of their entity. Leveraging ACT's deep industry-wide knowledge and strategic auction process, clients appreciate ACT's approach, pairing the professional expertise of a national investment banking firm with the senior level attention and entrepreneurial creativity of a smaller enterprise. ACT's technology practice provides guidance for IT Services and Specialized SaaS firms (Fintech, Adtech) who want an optimal exit. For more information, please visit their website at https://actcapitaladvisors.com
SOURCE ACT Capital Advisors
Share this article