BIRMINGHAM, AL – Founders Advisors (“Founders”) is pleased to announce that Lee Electrical Construction, LLC (formerly Lee Electrical Construction, Inc.), a provider of specialty construction services to investor-owned utilities, electric cooperatives, municipalities, and industrial companies, has been acquired by Quanta Services, Inc. (NYSE: PWR). The transaction was completed in August 2020. Lee Electrical Construction was advised on the transaction by principals of Founders Advisors.
Founded in 1985, Lee Electrical Construction is a utility service provider offering power line construction and maintenance services primarily in the Southeastern and Mid-Atlantic United States. Headquartered in Aberdeen, NC, the company offers services in the areas of overhead and underground distribution, transmission and substation, horizontal directional boring, and storm restoration. Lee Electrical Construction’s customer base spans a diversified group of utility cooperatives, investor-owned utilities, and municipalities.
“The Founders team did an exceptional job helping us navigate the sales process and find the right partner for us and our management team,” said Donnie Lee, Senior Vice President at Lee Electrical Construction. “We now appreciate all the different components that go into selling a business, and can’t picture us doing it without John Sinders and his team’s help. We couldn’t have asked for a better partner.”
“We are delighted to have been able to work with Donnie, Jerry, and their talented team on this transaction,” stated John Sinders, Managing Director at Founders. “This is a strong company with an amazing opportunity for continued growth and we look forward to seeing the future success of Lee Electrical Construction as a Quanta Services company.”
About Founders Advisors, LLC
Founders is a merger, acquisition, & strategic advisory firm serving middle-market companies. Founders focuses on helping companies across technology, business services, consumer, energy, healthcare, and industrial industries. Founders’ skilled professionals, proven expertise, and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals. In order to provide securities-related services discussed herein, certain principals of Founders Advisors, LLC are licensed with Founders M&A Advisory, LLC, member FINRA and SIPC. Founders M&A Advisory, LLC is a wholly-owned subsidiary of Founders Advisors, LLC. Founders Advisors, LLC does not provide investment advice. For more information, please visit www.foundersib.com.