WAUKESHA, Wis. — NEXT Electric, LLC (NEXT), a premier provider of high quality electrical solutions, announced that IES Holdings, Inc. (IES) has acquired 80% of the membership interests in the company. IES operates in the industrial infrastructure market throughout the United States. NEXT’s current management team, led by President Chris Surges, has chosen to reinvest its entire ownership interest and will collectively retain 20%.
“Today marks an exciting new chapter in the story of NEXT Electric,” said Surges. “With this strategic partnership, we will be able to refocus our efforts on providing expanded services along with additional resources to our dedicated customer base, while retaining the core values of our team members. We believe IES shares these similar values, and look forward to growing NEXT’s vision together.”
Since launching in 2012 NEXT has become a leading electrical contractor in the region. NEXT Electric specializes in the design, installation and maintenance of electrical systems for commercial, industrial, healthcare, water treatment and education end markets. NEXT will serve as an engine to help grow IES’s Midwest operations.
“The acquisition of NEXT reinforces our strategy to partner with strong management teams in attractive markets,” said Robert Lewey, President at IES. “IES’s long-term investment horizon and ownership culture allowed us to create a structure where Chris and his team will retain a meaningful ownership stake in NEXT and its future. We are excited to welcome Chris and NEXT’s over 100 team members to IES and are excited to partner with them to continue to grow NEXT.”
NEXT will operate as a subsidiary in IES’s Commercial & Industrial segment and will continue to operate under the NEXT name.
About NEXT Electric, LLC
NEXT Electric, LLC is an electrical contractor based in southeastern Wisconsin that provides the highest quality electrical solutions while maintaining safety as our top priority. Our specialties include design, installation and ongoing support for all types of commercial, industrial and institutional projects. Our team of licensed, experienced professionals is prepared to respond quickly to our customers needs. Learn more about NEXT at: www.nextelectricinc.com.
About IES Holdings, Inc.
IES is a holding company that owns and manages diverse operating subsidiaries, comprised of providers of industrial infrastructure services to a variety of end markets. Our approximately 4,000 employees serve clients in the United States. For more information, visit: www.ies-co.com.