Calder Capital is electrified to announce the sale of its client, Control Electric (“Control”), to a local individual investor!
Founded in 1985 by Steve Dalga, Control Electric is an electrical services provider located in Grand Rapids, Michigan. Control provides residential, commercial, and retail services in the West Michigan area. Control Electric also owns a separate division under the name of “Power by C.E.I.”, which acts as an authorized dealer for the sale, service, and installation of Generac and Kohler generators.
Steve Dalga, the founder of Control Electric, decided in 2022 to retire after 37 years as the sole owner of the company. He engaged Calder Capital as his exclusive M&A advisor to find a suitable successor, and Scott Nicholson, a Calder Advisor, served as the lead project manager for the company.
“Scott was very helpful throughout the whole process and Calder was able to provide a number of qualified buyers to choose from. The new owner has previous experience within the field and is committed to keeping the business family owned and operated, which is what I was looking for,” noted Steve Dalga.
Control Electric was sold to a local individual investor. The new owner plans to be hands-on in the company’s day-to-day operations and will utilize their management experience and technical trade knowledge to successfully take over and grow the company. Control Electric will continue to be family-owned and operated, and the new owner looks forward to maintaining the excellent relationship and service that the company has provided to the Greater Grand Rapids community while also advancing opportunities for both customers and staff.
“We are looking forward to continuing the excellent relationship and service that Control Electric has provided to the Greater Grand Rapids community while advancing the opportunities for both our customers and our staff,” commented the new owner.
Advisor Scott Nicholson stated, “It was a pleasure working with Steve Dalga. Steve and the buyer got along well from the start and worked out a great transition plan. The buyer is well-suited to further grow the Company and Steve can now enter his well-deserved retirement.”
Calder Capital served as the exclusive Mergers and Acquisitions Advisor to Control Electric. Terms of the transaction were not disclosed.
