Commonwealth Holdings, Inc. Acquires Rydalch Electric

BCC Advisers is pleased to announce our client, Commonwealth Holdings, Inc. (parent company of Commonwealth Electric Company of the Midwest), has expanded its operations with the acquisition of Rydalch Electric, Inc. BCC served as Commonwealth’s investment banker and advised in negotiations throughout the acquisition process.

Commonwealth will be combining its resources with Rydalch Electric’s highly trained professionals to deliver excellent electrical services to the Salt Lake City area, in addition to its current locations in Nebraska, Iowa, and Arizona.

“When we spoke with Rydalch, it was very clear we had the same vision in mind, went about business the same way, and valued customer and employee relationships. We both stand to benefit from combining our companies as we will remain committed to Rydalch’s employees and customers while bringing them the opportunity of employee ownership, new customers, and greater resources for expansion. At the same time, acquiring Rydalch will provide us with a reputable and established foundation in the Salt Lake City region, allowing us to extend our reach,” stated T Michael Price, President/CEO of Commonwealth Holdings. “BCC was instrumental in bringing us together with Rydalch and successful in navigating various challenges along the way,” Price added.

Rydalch Electric will continue to operate under the same name and build upon its reputation and history in the Salt Lake area. Rydalch’s leadership and staff will remain in place, leading its day-to-day operations. Its general contractors, subcontractors, and vendors will see no interruption in the same great service to which they have become accustomed.