Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Chesapeake Electrical Systems, Inc. (“Chesapeake”) has been acquired by Aldridge Electric (“Aldridge”). Evergreen Advisors Capital acted as the exclusive financial advisor to Chesapeake.
Chesapeake provides the full range of electrical contracting services to a wide variety of clients in the commercial and industrial sectors. Founded in 1993, Chesapeake has completed contracts on some of the region’s most recognizable landmarks, including Dulles and Reagan International Airports, the Raven’s M&T Bank Stadium, D.C.’s Walter E. Washington Convention Center, and the Washington Beltway Express Lanes.
“We are thrilled to join an amazing team, who, like us, works extremely hard to provide the highest level of customer satisfaction and innovative solutions our clients expect from us,” said Joey Tominovich, President & CEO of Chesapeake. “This is great news for our customers and our employees as Aldridge sees tremendous potential in having Chesapeake as their platform for growth in the Washington/Baltimore region. Furthermore, Aldridge shares our vision in taking care of their employees and providing opportunities for them to advance and grow professionally.”
Rick Kohr of Evergreen Advisors Capital noted, “Aldridge is one of the leading national contractors in the country with a strong reputation in energy and transportation infrastructure. With the acquisition of Chesapeake, they create a powerful platform, providing industry-leading tools and techniques alongside their mutual commitment to state-of-the-art and quality solutions.”
Terms of the transaction were not disclosed.
About Evergreen Advisors Capital
Evergreen Advisors Capital, LLC is a leading investment banking and corporate advisory firm focused on assisting emerging growth and middle-market companies in the areas of corporate finance, growth and exit strategies, valuations and advisory services. For more information, visit www.evergreenadvisorsllc.com/
Securities transactions conducted through Evergreen Advisors Capital/Member FINRA/SIPC.
About Chesapeake Electric Systems
For 25 years Chesapeake Electric Systems has been a leading Mid-Atlantic electrical contractor with a broad expertise in electrical installation and services. Chesapeake has worked on some of the region’s most recognizable landmarks over the past quarter century.
About Aldridge Electric
With nearly $500M in annual revenues, Aldridge Electric is ranked among the nation’s leading electrical contractors. Incorporated in 1952, they have more than 65 years of expertise completing complex transportation, drilling, mass transit, and power projects. A family-owned company headquartered in the Chicago area, Aldridge employs 1,000 employees on projects from coast to coast. www.aldridgegroup.com/