Benchmark International Successfully Facilitated a Transaction Between Aschinger Electric Company, Inc. and Guarantee Electric

Benchmark International has successfully facilitated a transaction between Aschinger Electric Company, Inc. and Guarantee Electric.

Aschinger Electric is one of the leading electrical contractors in Missouri. The family business, founded in 1912, has expanded over the four generations of leadership and provides alternative energy and NFPA-70E services. In recent years the company has diversified its services transitioning from mainly offering commercial services to heavy industrial, electrical preventative maintenance, and lighting maintenance. Aschinger Electric recently received the ASA Safety Cup and Outstanding MEP Subcontractor award at the American Subcontractors Association (ASA) Midwest Council.

Aschinger Electric, whose electrical services include commercial, industrial, data/communications, solar, lighting maintenance, and electric vehicle charging work, is the region's sixth-largest electrical contractor, with $49.3 million in 2020 companywide billings. Aschinger also is among the St. Louis region's largest women-owned businesses. ^(Barr)

“Our goal is to create lifetime partnerships with our clients by being a proactive contractor and service provider. We will continue to be a market leader, helping our clients operate their businesses efficiently and safely,” said Emily Martin, President.

Aschinger's fourth-generation owner and president, Emily Martin, will join Guarantee's leadership as executive vice president. Martin also has been named to succeed Chief Operating Officer Rich Ledbetter in October 2022, when he will succeed Rick Oertli as CEO of Guarantee, officials said. After Oertli steps down from the CEO post, he will retain his role as chairman of Guarantee's platform of companies, a spokesman told the St. Louis Business Journal. ^(Barr)

The acquirer, Guarantee Electric, was founded in 1902 and is a national leader in designing and constructing electrical and building management systems. The company is a full-service electrical contractor specializing in preconstruction, electrical engineering, electrical construction, intelligent building systems installation, and quick response services. Their team supports clients throughout a facility’s lifecycle, from preconstruction through construction, to preventive maintenance and energy audits, to building upgrades. Guarantee Electrical Company has offices in Missouri, Illinois, Colorado, and California and is also a founder of the Federated Electrical Contractors (FEC). Employee-owned Guarantee Electrical, with $206.2 million in 2020 companywide billings, is the St. Louis region's third-largest electrical contractor, according to Business Journal research. ^(Barr)

“Emily and I have worked side by side for many years on the NECA Board of Directors, as joint-venture partners, and collectively on many of the area’s landmark projects,” Dave Gralike, president of Guarantee Electrical Co., said in a statement. “We are fortunate to have Emily bring her fresh, innovative, and diverse perspective to our leadership team. She is an added catalyst to our company and will help in achieving our aggressive internal and external goals.”

“Our company cultures, markets served, and business styles complement each other well. Coming together as a single force will have so many benefits for our customers, our employees, and our community,” Martin stated. “The combination of Guarantee’s support structure and resources with Aschinger’s entrepreneurial energy and personal approach to service creates a synergy unlike anything else.”

“Aschinger is an incredibly successful company with a shared vision and sterling reputation in the St. Louis market and beyond. We are committed to integrating our talented teams and preserving the client focus and entrepreneurial energy they bring.” Ledbetter, Guarantee's COO, stated. ^(Barr)

This merger represents two of St. Louis’ largest private companies, and largest electrical contractors. The merged business will have combined revenue of nearly $300 million and 1,000 employees. Acquiring Aschinger will expand Guarantee’s regional footprint with added capacity and capabilities.

Pictured Below: Guarantee Electrical Co. is acquiring Aschinger Electric. From left: Guarantee President Dave Gralike, Aschinger President Emily Martin, Guarantee COO Rich Ledbetter and Rick Oertli, Guarantee's chairman and CEO.

GUARANTEE ELECTRICAL CO.

Reference:

Barr, Diana (2021) EXCLUSIVE: Two of St. Louis' largest private companies to merge, forming nearly $300M electrical contracting firm. St. Louis Business Journal.   https://www.bizjournals.com/stlouis/news/2021/11/16/2-of-st-louis-largest-private-companies-to-merge.html