PCE Investment Bankers, a leading financial services firm for mid-market companies, is pleased to announce the sale of Williams Electric Company (WEC) to Parsons Corporation. WEC specializes in control system integration, electrical and general contracting, and energy infrastructure solutions. Customers of WEC include U.S. federal government agencies and facilities, including the U.S. Army Corps of Engineers (USACE). PCE served as exclusive financial advisor to WEC.
“PCE focused on value and long term strategic growth opportunities for our business and our employees. The market for converged critical infrastructure protection technology is evolving quickly, and the integration of our two companies creates a single-source end-to-end solutions provider for integrated physical and cyber protection solutions. PCE was diligent about protecting confidentiality in the marketplace as they contacted our competitors to determine interests in acquiring Williams Electric,” stated Dan Rucker, President of Williams Electric Company.
PCE’s David Jasmund commented, “This transaction is a perfect example of how we work with owners and management over many years to position a business for sale. The resulting acquisition by Parsons was a win-win not only for our client’s shareholder but of equal importance, growth opportunities for WEC employees and enhanced service capabilities and offerings for their clients.”
Parsons is a leader in many diversified markets with a focus on infrastructure, defense, security, and construction. Parsons delivers design/design-build, program/construction management, systems design/engineering, cyber/converged security, and other professional services packaged in innovative alternative delivery methods to federal, regional, and local government agencies, as well as to private industrial customers worldwide. This acquisition aligns with Parsons’ strategy to enhance the corporation’s value to operational technology (OT) environments seeking converged, holistic solutions to physical and digital threats.
“Parsons’ existing contractual relationships with numerous customers within the Departments of Defense, Energy, and Veterans Affairs and elsewhere are ideal environments for our now expanded control system offering,” said Carey Smith, President of Parsons’ Federal business unit. “And, certainly in regions such as the Middle East where Parsons has been a tier-one player for decades, Williams Electric will bring new opportunities on both sides of the acquisition.”
About: PCE is a leading financial services firm for mid-market companies, offering clients a full range of investment banking, valuation and advisory services. PCE delivers M&A support, ESOPs, management buyouts (MBOs), bankruptcy advisory, restructuring, and fairness and solvency opinion advisory services. Additionally, the firm offers management consulting, succession planning, strategic analysis and litigation support. Experienced in all market sectors, PCE has established several specialty practice areas, including Consumer, Diversified Industrial, Power, Healthcare, Construction & Building Products, Manufacturing, and Food. Offices in Orlando, Atlanta, Chicago and New York.