75-Year-Old Strain Electric Company Acquired by Power VAC, LLC of Novi, MI

WYOMING, Mich. - Jan. 29, 2022 - PRLog -- Calder Capital, LLC is electrified to announce that 75+-year-old Strain Electric Company (https://www.strainelectric.com/) of Wyoming, Michigan has been acquired by Power VAC, LLC of Novi, Michigan.

Founded in 1947 by Lester Strain, Strain Electric is a diversified electrical utility contractor specializing in industrial construction, outdoor traffic signals, and underground electrical work. Todd Strain, the third-generation owner of Strain Electric, started working part-time when he was 15 years old, but he has been working at Strain Electric continuously since 1988. He's been the sole owner since 2007. After having been incredibly hands-on in operations for a long time, Todd and his wife Debbie look forward to gradually reducing their day-to-day involvement in the business over the next two years.

Strain Electric was acquired by Power VAC, LLC (https://yourworkorder.com/), a hydro excavation service provider in Southeast Michigan. The acquisition was a strategic one for Power VAC, which has not yet had an electrical services presence in its area and also had previously not extended its brand into the west side of the state. Power VAC was supported by two Private Equity firms–Michigan-based Peninsula Capital Partners (https://www.peninsulafunds.com/) and Connecticut-based Pillsman Partners (https://www.pillsmanpartners.com/).

"Our team at Power VAC, LLC couldn't be happier to join forces with the Strain Electric team," said Karl LaPeer, Partner at Detroit-based private equity firm Peninsula Capital Partners. "In August 2019, Peninsula and Pillsman Partners completed a recapitalization of Power VAC, LLC in partnership with its founder and CEO, David Janks, with Strain becoming the fourth add-on acquisition into the commercial, industrial, transportation and municipal services platform in less than 2 ½ years." Edwin Burke, Managing Partner of Pillsman said, "We are excited to help Todd and Debbie Strain continue the Strain family's 75-year legacy of providing outstanding electrical infrastructure contractor services, and look forward to expanding Power VAC's hydro-excavation and trenchless rehabilitation services to the Western Michigan market."

Garrett Monroe of Calder Capital served as the lead Mergers and Acquisitions Advisor to Strain Electric.