MKD Electric Expands in Southeast with Brittain Electric Acquisition
Deal News | Jan 26, 2025 | Hastings Equity Partners LLC
Hastings Equity Partners announced the acquisition of Brittain Electric by its portfolio company, MKD Electric. This acquisition is part of MKD's strategy to enhance its market position as a leading non-union electrical contractor in the United States, particularly in the Southeast region. Founded by Ray and Stephanie Brittain, Brittain Electric has a well-established presence in delivering quality electrical services to federal, commercial, and industrial clients. The acquisition enables MKD to leverage Brittain's local expertise and strong relationships with general contractors and customers. The acquisition aligns with MKD's goal to grow through strategic acquisitions and organic development, as highlighted by CEO Ed Maslak and Hastings' Principal Grant Reckhow, who both emphasized the strategic fit and growth potential of this deal.
Sectors
- Electrical Contracting
- Private Equity
Geography
- United States – Both MKD Electric and Brittain Electric operate within the United States, and the acquisition affects their presence in the Southeast region, indicating a domestic focus.
- Southeast Region – The acquisition is intended to strengthen MKD Electric's presence in the Southeast, a key geographic focus area highlighted in the article.
Industry
- Electrical Contracting – The industry is involved as Brittain Electric and MKD Electric are both electrical contractors providing services to various sectors.
- Private Equity – Hastings Equity Partners, a private equity firm, finances MKD Electric's acquisition, indicating the involvement of private equity in funding and strategic growth.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MKD Electric | Acquiring Company | Company | A portfolio company of Hastings Equity Partners, MKD Electric is one of the largest non-union electrical contractors in the U.S. |
| Brittain Electric | Target Company | Company | A Georgia-based electrical contractor known for serving federal, commercial, and industrial clients in the Southeast. |
| Hastings Equity Partners | Private Equity Firm | Company | A preferred capital partner specializing in lower middle-market businesses, backing the acquisition by MKD Electric. |
| Ray and Stephanie Brittain | Founders | People | Founders of Brittain Electric, contributing to its strong reputation in the Southeast. |
| Ed Maslak | CEO | People | CEO of MKD Electric, overseeing the strategic acquisition to enhance MKD's market position. |
| Grant Reckhow | Principal | People | Principal at Hastings Equity Partners, supporting the integration and growth of MKD Electric post-acquisition. |