Detroit-based middle-market private equity firm Huron Capital has acquired RK Electric, a non-union, full-service electrical contractor based in the San Francisco Bay area. Terms of the transaction were not disclosed.
The acquisition coincides with the launch of Huron Capital’s latest facility services ExecFactor platform, which was formed to execute a buy-and-build in the highly technical electrical services space.
RK Electric is the cornerstone of Huron’s latest platform initiative in electrical services and will continue to be led locally by RK’s existing executive team, including Raul Real, president; Dan Yeggy, vice president of estimating; and Rich Skibinski, vice president of engineering. In addition to Huron’s fund investment, RK received a co-investment from Huron’s existing LP base.
Tom Bartolomei will become CEO of the overall electrical services platform. In the role, he will guide strategy and expand initiatives alongside RK’s existing management team, as well as hold primary responsibility for sourcing, integrating, and leading future acquisitions for the platform.
Bartolomei has more than 30 years of industry experience, most recently serving as CEO of Shermco Industries in Irving, Texas; NAES Corporation in Issaquah, Wash.; and Eco Power Solutions in Boston.
“I am thrilled to be partnering with Huron Capital — they have a vision for building a leading electrical services company focused entirely on serving the complex needs of critical uptime environments,” says Bartolomei. “By focusing on differentiated engineering, talent development, and offering a broad suite of preventative maintenance, repair, inspection and compliance services, we will build upon the foundation that has made RK indispensable to blue chip customers for over 30 years.”
Based in Fremont, Calif., RK is a company with decades of experience serving commercial clients in highly technical end markets including semiconductor, biotechnology, EV and battery manufacturing, and higher education.
The company was established in 1985 and employs a group of technicians across electrical and low voltage divisions who it states are capable of providing comprehensive engineering, design-build, retrofit, reoccurring services, and other auxiliary services.
“Having been with RK Electric for over three decades, I am thrilled to see the progress we have made, the team we have and look forward to what we will achieve by working with Huron,” says Real. “Their knowledge and expertise gained from previous buy-and-builds within the complex facility services ecosystem will allow us to accelerate growth both organically and through acquisition with confidence.”
