R.L. Hulett Advises Glaenzer Electric on its Sale to Heritage Holding

R.L. Hulett (“RLH”) is pleased to announce that its client, Glaenzer Electric, Inc. (“GEI”), has been acquired by Heritage Holding (“Heritage”). In this transaction, RLH acted as exclusive financial advisor to the Seller.

The owner, Larry Glaenzer, sought a buyer that could provide a combination of liquidity, resources and expertise needed to scale GEI’s operations while continuing to support its longstanding quality of service and customer relations. Heritage Holding emerged as the ideal buyer, with existing platform investments in the electrical/mechanical contracting space, while providing the Company with the tools and infrastructure to streamline workflows and elevate service delivery.

Upon closing the transaction, owner Larry Glaenzer had this to say:

“We are thrilled to join forces with the Heritage team as we step into an exciting new chapter of growth for Glaenzer Electric’s employees and customers. We extend our heartfelt gratitude to every employee who has played an integral role in building this company into what it is today; your dedication and commitment have been the foundation of our success. We also wish to express our sincere appreciation to the R.L. Hulett team, whose expert guidance proved invaluable throughout this complex process.” – Larry Glaenzer, Owner & Founder, Glaenzer Electric

In this transaction, Mathis Marifian & Richter, Ltd. served as legal counsel to the Seller.

 

About Glaenzer Electric

Founded in Belleville, Illinois in 1993, GEI has been a trusted electrical contractor specializing in repair, retrofit, and installation services for commercial and residential customers for 33 years. Known for its wide-ranging expertise, including commercial lighting, new construction, generator installations, surge protection, and customized electrical solutions, the Company has developed a reputation for quality workmanship and on time project completion. GEI’s team of highly trained technicians and project managers ensures seamless execution from planning through commissioning while helping clients meet performance, budget, and compliance objectives.

 

About Heritage Holding

Founded in 2015 by Ross Porter and Alex de Pyffer, Heritage Holding is a Boston-based, values-driven private investment firm that partners with founder and family-led businesses across the industrials and business services sectors. Heritage is currently investing out of a $220MM institutional fund and has made 36+ acquisitions across 11 platform companies to date. The Heritage Holding Group is building a nationwide platform of HVAC, mechanical, plumbing and electrical providers across the U.S. Glaenzer Electric represents Heritage’s first investment in the electrical contracting services space.

 

About R.L. Hulett

R.L. Hulett is a St. Louis-based middle market investment bank providing sell-side and buy-side M&A advisory, capital markets advisory and valuation services to business owners and private equity executives. Founded in 1981, R.L. Hulett has advised in over 285 transactions across a variety of industries including industrials, food & consumer, packaging, transportation & logistics, business services, healthcare and software/tech-enabled services. The firm focuses on middle-market, family and founder-owned businesses with revenue ranging from $10-250MM and EBITDA from $2-20MM.