Most Buyers Are Not Built for the Long Term
The electrical services acquisition market is crowded with private equity firms, search funds, and strategic buyers. Most are building portfolios designed to be sold in three to five years. That means your company, your team, and your customers become part of someone else's exit strategy.
What Most Buyers Do
What Eterna Does Differently
Deep Expertise in Essential Electrical Services
We acquire companies that have built real expertise in one or more of these six disciplines. If your work involves keeping electrical systems safe, reliable, and compliant, we want to talk.
Testing and Maintenance
Companies that perform acceptance testing, preventive maintenance, and emergency response for transformers, switchgear, circuit breakers, relays, protective devices, cables, and substations. Clients typically include utilities, industrial facilities, commercial buildings, data centers, and hospitals. Work is often recurring, specification-driven, and performed by NETA-certified technicians.
Engineering
Companies that design, study, and engineer electrical power systems. This includes power system design, substation engineering, protective coordination and short circuit studies, grounding and lightning protection design, and feasibility analysis. Clients range from utilities and renewable energy developers to industrial plants and data center operators. Work is led by licensed professional engineers.
Automation and Controls
Companies that program, integrate, commission, and maintain control systems for electrical power infrastructure. This includes substation automation, utility SCADA and EMS, protective relay programming, RTU and IED integration, control panel design, and distribution automation. Clients include utilities, cooperatives, municipal power authorities, and industrial facilities with utility-class substations.
Safety and Compliance
Companies that help facility owners meet electrical safety and code requirements. Services include arc flash hazard analysis, NFPA 70E workplace safety programs, NFPA 70B maintenance compliance, short circuit and coordination studies, NEC code consulting, NERC compliance support, and electrical safety training.
Critical Power Systems
Companies that design, install, test, and maintain mission-critical power systems. This includes UPS systems, standby generators, automatic transfer switches, battery energy storage, power distribution units, and power conditioning equipment. Clients include data centers, healthcare facilities, financial institutions, and government buildings.
Apparatus Repair and Reconditioning
Companies that repair, rebuild, recondition, and maintain electrical apparatus. This includes electric motor and generator rewinding, VFD and drive repair, switchgear and circuit breaker reconditioning, predictive maintenance, and on-site field service. Clients include industrial plants, utilities, water treatment facilities, and operations that depend on rotating equipment and power distribution gear. Work is repeat, expertise-driven, and built on emergency response reliability.
What We Look For in a Partner Company
We are selective about the companies we acquire because we intend to own them forever. Every acquisition needs to be a business we are confident will thrive for decades. Here is what we look for:
Revenue
$1.5M to $20M in annual revenue.
Margins
EBITDA margins consistently above 15%.
Revenue Quality
Recurring revenue from long-term contracts and repeat customer relationships.
Customer Concentration
No single customer accounts for more than 50% of revenue.
Growth
Strong growth trajectory in a growing end market.
Geography
Based in the United States or Canada.
Don't worry if your business does not check every box. These are guidelines, not hard rules. If you run a strong electrical services company and the fit feels right, we want to hear from you.
What to Expect When You Work With Us
We know that selling your business is a major decision. We have designed our process to be clear, respectful, and efficient. Here is what working with Eterna looks like from start to finish.
Initial Conversation
A private call to learn about your business, your goals, and what matters most to you. Nothing you tell us goes beyond our team unless you say so. If there is mutual interest, we will sign a non-disclosure agreement and share a short information request so we can begin evaluating a potential partnership. You will always know what comes next.
Mutual Evaluation
If we both want to move forward, we go deeper. We review your financials, learn about your operations, and understand your team and customer relationships. We will also share more about Eterna so you can evaluate us. We aim to reach an initial indication of value within two to three weeks.
Letter of Intent
If the fit is strong and the numbers work, we present a Letter of Intent with clear terms and a fair valuation. No hidden conditions or last-minute surprises. We explain every element of the offer and give you time to review it with your advisors.
Due Diligence and Closing
Once the LOI is signed, we complete our confirmatory diligence and work toward closing. We keep this process as efficient as possible and communicate with you every step of the way. Our goal is to close within 60 to 90 days of signed LOI.
Partnership Begins
After closing, the real work begins. Your company joins Eterna with its brand, team, and operations intact. You gain access to resources, peer networks, and growth capital. We check in regularly but we do not micromanage. Your business is your business. We are here to support you.
After 35 years of building and running an electrical services company, I know what matters to the people in this business. Eterna gets it. They understand the work, they respect the people who do it, and they are committed to being a permanent home for great companies.
Fred Sargent, Former CEO, Sargent Electric Company, Pittsburgh, PA. Now President, Great Service Forums™
I have spent my career in electrical services — from the field to the boardroom. I have seen what happens when companies get acquired by firms that do not understand this industry. Eterna is different. They are building something for the long term, and they are doing it with the kind of respect for operators and customers that this business demands.
Greg Vaughn, Former SVP of Strategic Sales, Voltyx. Former VP of Business Development, North American Substation Services (NASS)
I run a testing and commissioning business, so I know exactly what this work demands — the certifications, the crews, the standards you can’t cut corners on. I’ve gotten to know the Eterna team well, and they’re one of the few groups in this space who genuinely understand the trade. They respect the technicians, they respect the customers, and they’re building for the long haul.
Didier UsCan, Co-Founder, PowerWave Services — Houston, TX