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March 13, 2025

Electrical contracting company gets private equity investment

COSTAR In addition to its headquarters at 980 Turnpike St., in Canton, Mass. (shown above), Professional Electrical Contractors of Connecticut has a regional office in Plainville.
By Harriet Jones

Professional Electrical Contractors of Connecticut Inc., a full-service electrical contracting firm, has received an investment from private equity firm Alaris Equity Partners.

PEC is headquartered in Massachusetts, but has a regional office in Plainville. It has 300 associates and does large-scale commercial work in several New England states.

Through its subsidiary, North American Renewables Inc., PEC is also involved in solar engineering, procurement and construction in New England and New York.

The investment from Alaris totals $61.1 million, including a $37 million investment in debt and preferred equity as well as an investment of $24.1 million in exchange for a minority common equity ownership in PEC.

PEC says the investment will provide it with the resources and financial backing to accelerate growth. 

“Alaris' combination of financial strength and M&A acumen will allow us to focus on growth, while their approach recognizes our desire to protect and preserve PEC's culture, which has always been a competitive advantage and our defining attribute,” said Jim Bisson Jr., president and CEO of PEC.

 BaseRock Partners acted as financial advisor to PEC in the transaction.
 

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