Aschinger Electric merges with Briner Electric Company
From the St. Louis Business Journal:
Aschinger Electric has wrapped up its merger with Maryland Heights-based Briner Electric Co.
The combined entities will operate under the Aschinger Electric flag, boosting the Fenton firm’s 140-member workforce with 24 employees and growing Aschinger’s client pool. Both companies have relied on workers from International Brotherhood of Electrical Workers Local 1 for projects, Aschinger President Emily Martin said.
The merger has been in the works since June when brothers Mike and John Fogerty approached Martin with the opportunity, she said. Financial terms were not disclosed.
“The families have been friends for three generations. Mike says he’s known my father, Eric, longer than his brother,” Martin said.
Briner Electric Co. has been in operation since 1895 and is the second-oldest member contractor of the National Electrical Contractors Association. Briner’s projects include the renovations of St. Louis County Library branches.
The additional staff from Briner will enable Aschinger to grow revenue. It reported $44.4 million last year and is expecting to exceed that for 2018, Martin said.
Aschinger will continue its focus in solar, with the upcoming addition of 2 megawatts to Washington University’s campus.
In Missouri and Illinois, the number of electricians is slated to grow 10. 2 percent and 7.4 percent, respectively, through 2026. Nationwide, it’s projected to grow 8.9 percent, according to the U.S. Bureau of Labor statistics.