New acquisition: US energy services provider - Sargent Electric

September 06, 2024
New acquisition: US energy services provider - Sargent Electric

Constructel Visabeira has just acquired Sargent Electric, a leading company in the energy sector in the United States, with over $400 million in revenue for the current year.

Founded in 1907, Sargent Electric, is a full-service electrical services company serving Fortune 500 customers throughout the United States.  With over 1,000 employees, the company operates across various sectors.  Sargent has a long history and proven capabilities delivering projects in the commercial and industrial sectors.  Today, Sargent is very active in energy transition projects including renewable energy projects (wind, solar, renewable gas and Battery Energy Storage (BESS) projects) as well as utility transmission, distribution and substation projects.   Sargent has built a strong resume as a go to partner for BESS Projects on some of the largest projects in the US.  The company is also developing a growing presence on current significant data center projects, leveraging its experience on large complex, fast track programs. With over a century of experience and a dedicated team of professionals, Sargent is known for its safe, high-quality work, reliability, customer-focused approach, and delivery capability. Sargent Electric has facilities in the Midwest, Mid-Atlantic, and Northeast regions, including Pennsylvania, Indiana, Maine, Wisconsin, and Ohio, but serves its strategic customers nationwide with active projects underway from Maine to California and Texas to Wisconsin.

This strategic acquisition strengthens Constructel Visabeira’s position to capitalize on the vast opportunities in both the U.S. energy and renewables sector and the technology and AI sectors, expanding its capabilities, geographic footprint, and customer base. Simultaneously, it also enables commercial synergies with JFECC (a U.S. company acquired by Constructel Visabeira in 2020, headquartered in Illinois) by providing a broader and more integrated portfolio of services. By combining its decades of expertise with Sargent Electric’s brand and established relationships with major U.S. clients, Constructel Visabeira is poised for accelerated and sustainable growth.

Sargent’s current management team, under the leadership of Rob Smith, will continue to lead the company with a focus on strong client relations, commitment to employees and partners, and relentless focus on safety and quality of delivery to drive the next wave of growth.

"This strategic partnership will allow us to accelerate our growth further, bringing additional services and capabilities to our existing customers and introducing Sargent to the Constructel customers as well. We also look forward to the opportunity to expand our combined value proposition to better serve the U.S. market.”

Rob Smith, CEO of Sargent Electric

Sargent Electric is Constructel’s eleventh acquisition since 2021 in its core markets of France, UK, Belgium, Portugal, Germany, and the United States. Combined with continued double-digit organic growth, the acquisition of Sargent will allow Constructel’s revenues to reach $650 million in the U.S. and €1.8 billion globally, further balancing Constructel’s global business between energy and telecom engineering services.

"We are thrilled to welcome Rob and his team to the Constructel Group. This acquisition marks a significant milestone and achievement for our company as it allows us to continue growing and expanding our presence in the United States."

"Sargent Electric’s over-century-long history, commitment to excellence, supported by a team of hundreds of skilled professionals, and its values and strategic objectives are perfectly aligned with Constructel Visabeira’s principles and beliefs. With Sargent, we are positioned to offer more comprehensive and better-integrated services to our clients, and to continue to drive innovation in the electrical energy industry. I am delighted to continue to execute on our ambitious growth plan whilst maintaining a conservative balance sheet that gives us flexibility to continue to execute on our M&A agenda."

Nuno Marques, CEO of Constructel Visabeira

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