Specialized Electrical Contractor

The Company is a highly respected electrical contractor for the oil and gas industry, as well as for other industrial, commercial, and residential markets. Areas of specialization include low voltage electrical, calibration, instrumentation, and general professional electrical services. The Company serves clients throughout Utah, in addition to Colorado and Wyoming. A loyal client base generates approximately 80% repeat business annually from the following customer markets: oil and gas production (80% of 2023 revenue), commercial (10%), and residential (10%) markets.

Diverse Service Offering — The Company offers a variety of services including, but not limited to, low-voltage work for computer networks, security systems, structured cabling, and data systems; calibration services; instrumentation and PLC programming; and general troubleshooting, installation, and maintenance of commercial electrical systems as well as residential home theaters.

Strong Client Relationships — The Company works closely with 25 active accounts. The top clients have worked with the Company for an average of 5 years and rely heavily on its expertise in the field. The Company has particularly strong relationships with oil and gas producers, who represented 80% of total sales in 2023.

High Sales Growth — Sales have grown consistently year over year. They increased from $4,862,000 in 2021 to $8,338,000 in 2023, representing a compound annual growth rate of 31.0%.

Considerably More Profitable — EBIT grew 115.7% compounded annually, from $337,000 in 2021 to $1,568,000 in 2023. EBIT as a percentage of sales is strong when compared to companies in the same industry. The Company’s EBIT represented 18.8% of sales in 2023, higher than the industry average of 7.9%. IBISWorld – 23821 “Electricians in the US”