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Completed Transactions > Construction and Engineering > Webster Electric Acquired by a Private Investor

Webster Electric Acquired by a Private Investor

Webster Electric

Date

Jun 2019

Region

Mississippi

We are pleased to announce the sale of our client, Webster Electric Co Inc. to Providence Group, LP, a NY-based Private Equity Group. The acquisition closed June 28, 2019 and details were not disclosed.

Webster Electric Co Inc., located in Meridian, Mississippi, is a full-service electrical contractor serving industrial, commercial, educational and institutional clients. Since the business opened in March of 2000, it has grown steadily and customers include some of the largest entities in the states of Mississippi and Alabama.

The company is the largest airport lighting contractor in the state of Mississippi and has completed several Intelligent Transportation Systems (I.T.S.) and more Weigh in Motion Truck Scales and static truck weighing systems than any other electrical contractor in the State.

Providence Group, LP, is a private equity group specializing in acquiring smaller microcap companies located in the Eastern United States. Its mission is to build and manage a portfolio of three microcap companies with a combined $50,000,000 valuation while achieving superior returns for its Limited Partner investors.

Generational Equity Executive Managing Director of M&A - Central Region, Michael Goss, and his team, led by Senior M&A Advisor, Sam Sumner, successfully closed the deal. Senior Managing Director James Carr established the initial relationship with Webster Electric.

“This is yet another great example of both a committed seller and buyer having to overcome many hurdles to get to the closing table,” said Goss.

“Both parties remained resolute in reaching key agreements to see the deal through to the end and achieve what both parties believe is a solid transaction that will benefit the parties, the employees, and all other stakeholders.”

If you would like to learn more about our history of completing deals in this industry, visit our dedicated Construction & Engineering page.