Twelfth Platform Investment for $382 Million Fund V
Pfingsten announces its investment in New England Electrical Contracting, LLC (“New England Electrical” or the “Company”), an independent provider of electrical services serving the telecommunications, electric vehicle charging and utility markets, in partnership with the Company’s founder, Kevin Farrell.
Headquartered in Kingston, Massachusetts with three additional locations throughout Massachusetts, New England Electrical is a leading, vertically integrated provider of critical electrical services supporting the rollout of 5G technology and electric vehicle charging stations. The Company’s services include the installation, retrofit, maintenance, repair and decommissioning of electrical infrastructure.
“New England Electrical is a market leader focused on providing a complete offering of critical electrical services to its customer base,” said Phillip Bronsteatter, Managing Director at Pfingsten. “We look forward to supporting the Company’s continued growth with investments in people, infrastructure, geographic expansion and add-on investments.”
“We are thrilled to partner with Pfingsten,” said New England Electrical President, Kevin Farrell, who, retained significant equity ownership in the Company. “Pfingsten’s operational capabilities and prior experience scaling technical field service businesses make them the ideal partner to help us execute our strategic objectives.”
The transaction closed on October 6, 2021, marking the twelfth platform investment for Pfingsten’s $382 million Fund V. For more information on New England Electrical, visit neecc.com.
About Pfingsten
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 148 manufacturing, distribution and business services companies. For more information, visit pfingsten.com.
