Generational Equity Advises Spectrum Engineering Corporation in its Sale to EN Engineering
DALLAS--(BUSINESS WIRE)--Aug 30, 2021--
Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Spectrum Engineering Corporation to EN Engineering. The transaction closed July 23, 2021.
Founded in 1979 and Located in Auburn, Indiana, Spectrum Engineering provides high-quality electric power engineering, consulting, design, testing, and commissioning services to municipalities, universities, industrial clients, and government agencies. In 1985, the Company recognized a need for reliable high-speed relay communication between electric power substations and became involved with evaluating and designing fiber-optical telecommunication solutions.
Today, the Company provides not only the electric power services for which it was known in the beginning, but also a wide array of telecommunication services. These include conducting feasibility studies, preparing detailed business plans, and tailoring systems designs for each client’s unique telecommunication needs.
EN Engineering (EN), headquartered in Warrenville, Illinois provides engineering, consulting, and environmental services to restore and expand infrastructures, enhance and streamline systems, and identify and record key assets for clients including pipeline operators, utilities, and industrial companies. As one of the fastest growing engineering firms in the country, the opportunities are endless for employees who are passionate, curious, and client focused.
With this acquisition, EN Engineering will build upon its strong position in the electric power and gas utility markets with added presence in Indiana, Michigan, Ohio, Missouri, and other surrounding states. Spectrum Engineering’s strengths will also add to EN’s growing communications engineering platform through the addition of Spectrum’s fiber optic, data center, and telecom services.
“We are very excited to expand EN’s transmission and substation engineering, protection and controls, and SCADA services for utilities,” said Steve Knowles, CEO of EN Engineering. “Spectrum Engineering’s solid reputation for excellence and integrity aligns well with the vision and values we hold at EN. The company will fit very well with our team and will expand EN’s capabilities, geographic presence, and customer base.”
Scott Bowles, president of Spectrum Engineering said, “We are excited to become partners with EN Engineering, a top-level engineering firm whose values and philosophy are very similar to ours. We were attracted to EN for the company culture and the growth platform that we believe will help accelerate our expansion.”
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team lead by Managing Director M&A, Jerry Yocum, with support from Managing Director, Mergers & Acquisitions, Ryan Johnson, successfully closed the deal. Senior Managing Director, Eric Colton, established the original relationship with Spectrum Engineering.
“This was one of the smoothest deals I have been involved with. Both sides worked very well through out the process. It will be a great partnership going forward,” said Yocum.
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors,Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
The M&A Advisor named the company the 2017 and 2018 Investment Banking Firm of the Year and Valuation Firm of the Year in 2020. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.
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SOURCE: Generational Equity
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PUB: 08/30/2021 08:15 AM/DISC: 08/30/2021 08:17 AM