C&H Electric, a Waterbury-based electrical contracting services company, has been purchased by Bill Concannon, who is now its majority owner.
The company declined to disclose financial terms of the sale after issuing an announcement this week. The deal was finalized in late December.
Concannon said the company, based at 1999 S. Main St, Waterbury, will remain in the city and continue to focus on serving its customers.
The company, founded in 1967, has completed thousands of electrical installations across Connecticut. It also provides maintenance services, along with lighting, power distribution, branch circuit wiring, solar arrays, electric vehicle charging stations and generators. Many of its customers are in the healthcare industry, such as hospitals, medical office buildings, senior living residences and behavioral health centers. It also serves commercial, education and industrial clients.
“I will focus on growing the business and helping our customers navigate the energy transition,” Concannon said in a phone interview. “There is a trend of properties moving away from fossil fuels, and having electrical vehicle charging stations.”
Minority owner Dan Mahieu will remain at the helm of the company as president.
Robert Cordeau, the longtime owner of the family business, decided to retire, which prompted the sale.
Concannon said he was immediately attracted to the people at C&H Electric.
“They were experienced, hard-working and had a drive for constant improvement – that is an essential feature of leading organizations,” he said.
Deborah Agrafojo and Jeffrey Rich of Touchstone Advisors, a New England merger and acquisition firm focused on selling privately-held and family businesses with revenue in the $3 million to $50 million range, facilitated the sale.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
