Generational Equity Advises K.E.P. Electric in Sale to IES Holdings

By Generational Equity


Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client K.E.P. Electric, Inc., to IES Holdings, Inc. The acquisition closed November 5, 2020 and details were not disclosed.

K.E.P. Electric, Inc. (KEP) was established in 1994 and is a Batavia, Ohio-based electrical contractor specializing in the design and installation of electrical systems for single-family housing and multi-family developments. KEP, with four offices serving customers in Ohio and Kentucky, had revenue of approximately $30 million in calendar year 2019.

Headquartered in Houston, Texas, IES Holdings, Inc. (IES) is a holding company that owns and manages operating subsidiaries that provide electrical contracting and other infrastructure services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities. Their approximately 5,500 employees serve clients in the United States.

KEP will become part of IES’s Residential segment and operate under the KEP name. IES’s Residential segment provides electrical installation services for single-family housing and multi-family apartment complexes.

Dwayne Collier, President of IES’s Residential segment, said, “The acquisition of KEP continues our strategy to partner with proven management teams and expand into attractive growth markets. Kevin Padgett, KEP’s founder and President, has built a strong business with a customer-centric focus on quality and execution. I am pleased to welcome Kevin and KEP’s over 80 team members to IES and we are excited to partner with the entire KEP team to take advantage of the growing markets in Greater Cincinnati, Columbus, Dayton, Kentucky and beyond.”

Kevin Padgett added, “After more than 25 years as a family-owned business, we are pleased to continue to drive our business and expand our market presence with the support of KEP’s dedicated team and IES’s financial and operational resources. We are excited to be a part of the IES family and join a company that shares our same long-term commitment to employees and customers.”

Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team, led by Managing Director, Mergers & Acquisitions, Jerry Yocum, with support from Managing Director, Mergers & Acquisitions, Ryan Johnson, successfully closed the transaction. Senior Managing Director Rick Buchoz established the initial relationship with KEP.

“These two companies were very motivated to get this transaction closed. Through the diligence process, each company learned how closely their cultures were aligned. This made the process very cooperative,” said Yocum.

About Generational

Headquartered in Dallas, Generational is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 17 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit