November 11, 2021
Transaction Announcement
BOSTON, MA — Dunn Rush & Co. LLC is pleased to announce the recent closing of the recapitalization of New England Electrical Contracting Corp. (“NEECC”) by Pfingsten Partners LLC (“Pfingsten”), in partnership with owner Kevin Farrell. Dunn Rush & Co. served as financial advisor to NEECC in the transaction.
NEECC (www.neecc.com), is a leading, vertically integrated provider of critical
electrical services supporting the rollout of 5G technology and electric vehicle charging stations. The Company’s services include the installation, retrofit, maintenance, repair and decommissioning of electrical infrastructure. NEECC is headquartered in Kingston, Massachusetts, with three additional locations throughout Massachusetts.
Pfingsten (www.pfingsten.com) is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 148 manufacturing, distribution and business services companies.
For more information about this transaction, you can click here to access the press release.
Dunn Rush & Co. LLC was founded in 2009 to provide high quality merger and acquisition advisory services to middle market companies valued between $20 million and $250 million. Dunn Rush & Co. LLC has significant expertise in the following industry sectors: Business Services; Construction Services; Consumer; Defense & Security; Healthy Living; Instrumentation; Manufacturing & Distribution; Medical Technology & Services; and Technology, Software & Data Services. The Firm is a registered Broker-Dealer and is headquartered at 101 Federal Street, Boston MA 02110. For further information, please visit our website at www.dunnrush.com or contact us at 617-451-0001.
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When I decided to sell my third generation, family business, I had many concerns. I wanted to be represented by an Investment Bank who had a strong reputation in the mergers and acquisition market, knew the market we participated in well enough to target likely interested parties, and who would manage the process of the transaction with various family members with various personal interests.
I had never sold a business before and didn’t realize everything that went into it, or the time involved. One of my best decisions was hiring professionals, Dunn Rush & Co., to guide us through the sale process. Their experience, determination and guidance resulted in a very smooth and efficient transaction. They were especially helpful during the negotiations over price. We achieved optimal results for all constituents: our shareholders, employees and customers.
I have seen the Dunn Rush team perform in several sell-side situations. You want them on your team! Their preparation and attention to detail is impressive. They are also real good people to have by your side during a stressful time. In the case of Bridgeport Fittings, Kevin and Greg introduced us to their Gold Standard of Preparation and we took their advice getting audited financial statements and a Quality of Earnings report. This preparation made the due diligence process go smoothly, helped the firm proactively address issues and greatly improved the due diligence process. The final results exceeded our expectations.