The Texas-based Criticore electrical services platform of Detroit private equity firm Huron Capital has acquired Jenco, a full-service, non-union electrical contractor in Scottsdale, Ariz. Terms of the transaction were not disclosed.
Jenco is Criticore’s second acquisition following the 2023 investment in RK Electric in California.
The leadership of Huron Capital and Criticore have developed the company’s operational and management structure through Huron’s ExecFactor platform initiative, a proprietary thematic investment strategy it has deployed across sectors and geographies to develop industry-leading middle market companies.
“We are excited to partner with the Jenco team to continue our path towards becoming the leading provider of comprehensive electrical services, specializing in electrical and data systems that are critical for technically advanced facilities and that meet the needs of customers throughout the entire facility lifecycle,” says Tom Bartolomei, CEO of Criticore.
“Jenco has developed a strong brand presence through its service-oriented culture, deep technical talent base, and unwavering commitment to safety that offers strong alignment with RK Electric’s capabilities and market leading position.”
Kelly Anderson, founder of Jenco, will continue in a leadership role as president of Jenco and will report to Bartolomei alongside Raul Real, president of RK Electric.
“Criticore’s newest partnership with Jenco provides expansion into the highly attractive Phoenix/Scottsdale market, while leveraging Jenco’s leading position to drive expansion with customers across Criticore’s core end markets,” says Brian Rassel, a partner at Huron Capital.
“Jenco has developed long-term, embedded customer relationships with highly attractive customers, and we are thrilled to partner with Kelly and the rest of the team to begin executing on our shared vision to become the leading service-oriented electrical platform.”
The acquisition is designed support Criticore’s strategy to execute a buy-and-build within the mission-critical highly technical commercial electrical services sector.
Jenco should support Criticore’s ability to provide a variety of electrical renovation, repair, and maintenance services to customers across uptime-critical end markets such as semiconductor, EV battery, data centers, biotech, health care, industrial manufacturing, and higher education, among others.
Jenco is a full-service, non-union electrical contractor serving a wide variety of technical end markets and facility types through a focus on customers operating in complex environments. The company delivers differentiated electrical retrofit, repair, service, and preventative maintenance services across the greater Phoenix Area.
“Huron and Tom’s deep experience in the broader facility services sector makes Criticore the ideal partner to support our next chapter of growth,” says Anderson. “The opportunity to be one of the foundational businesses in the Criticore platform is exciting. I am looking forward to leveraging the platform’s service-first culture and strategic vision to build upon the capabilities that have made Jenco indispensable to our customers over the past 30 years.”
Honigman served as legal advisor and Moss Adams served as financial diligence advisor to Criticore and Huron.
