FOR IMMEDIATE RELEASE –
Guarantee Electrical Company acquires Aschinger Electric Co.
Combined company represents 200 years of electrical-industry experience and leadership
ST. LOUIS, Nov. 16, 2021 – St. Louis-based electrical contracting firm Guarantee Electrical Company announced it will acquire fellow St. Louis firm Aschinger Electric Co. The deal will finalize on Dec. 31, and the merged operations will have a combined revenue that approaches $300 million and 1,000 employees.
Guarantee’s acquisition of Aschinger is a merger of two of the St. Louis region’s largest electrical firms and will leverage their individual strengths.
Aschinger Electric joins the Guarantee platform as an independent business unit and will continue to be recognized as Aschinger Electric, a Guarantee Electrical Company.
Fourth-generation Aschinger owner Emily Martin will join the Guarantee leadership team as Executive Vice President on January 1, 2022 and is the named successor-Chief Operating Officer to Rich Ledbetter, who in October 2022 will succeed Rick Oertli as CEO of Guarantee.
“Emily and I have worked side-by-side for many years on the NECA Board of Directors, as joint-venture partners, and collectively on many of the area’s landmark projects,” said Dave Gralike, president of Guarantee Electrical Company. “She has displayed exceptional leadership in growing a fourth-generation, award-winning business in the construction industry. We are fortunate to have Emily bring her fresh, innovative, and diverse perspective to our leadership team. She is an added catalyst to our company and will help in achieving our aggressive internal and external goals.”
Two of the region’s largest contractors, Guarantee Electrical and Aschinger Electric, have been longtime St. Louis peers, creating mutual respect through association leadership and many successful joint ventures over the years. Having shared an operational footprint in the St. Louis area for more than 100 years, the companies have come to understand and appreciate what each has to offer.
“Our company cultures, markets served, and business styles complement each other well. Coming together as a single force will have so many benefits for our customers, our employees and our community,” said Martin. “The combination of Guarantee’s support structure and resources with Aschinger’s entrepreneurial energy and personal approach to service creates a synergy unlike anything else. We believe in building lifetime relationships through trust and this new partnership will allow us to focus on doing exactly that.”
The companies’ similar values, culture and shared focus on operational excellence – combined with Guarantee’s employee-ownership and governance structure – provides a solid foundation for seamless transition to a combined entity with expanded resources, shared best practices and more opportunities for future success. “Aschinger is an incredibly successful company with a shared vision and sterling reputation in the St. Louis market and beyond. We are committed to integrating our talented teams and preserving the client focus and entrepreneurial energy they bring.” said Guarantee COO Rich Ledbetter.
Guarantee specializes in preconstruction, electrical engineering, electrical construction, intelligent-building-systems installation, and quick-response services. Aschinger Electric Co. offers a wide range of electrical services, including commercial, industrial, data/comm, solar, lighting maintenance, and electric-vehicle-charging expertise. The resulting acquisition will expand Guarantee’s regional presence with enhanced capacity, capabilities, and a focus on serving special projects, service work, and energy solutions.
The acquisition of Aschinger marks Guarantee’s second such transaction this year. In April, Guarantee acquired 100-year-old Berwick Electrical Company, based in Colorado Springs, Colorado – expanding its presence in Colorado, California, and the broader western region.
“Over the past 20 years, our team at Guarantee has developed a unique employee-owned platform for growth, achieved both organically and through acquisition. I am thrilled that Aschinger is joining our platform,” said Guarantee CEO Rick Oertli. “For a 120-year old organization, I can say with confidence that the future has never been brighter.”
ABOUT GUARANTEE ELECTRICAL COMPANY
Founded in 1902 to electrify the 1904 World’s Fair St. Louis, Guarantee Electrical Company is among the oldest electrical contracting firms in the United States. Consistently ranked among the top electrical contractors in the country, Guarantee has expertise in electrical engineering, electrical preconstruction, electrical construction, design-build/design-assist, communications, data, security, life-safety systems and 24/7 emergency and quick-response service.
For more information, visit geco.com.
ABOUT ASCHINGER ELECTRIC COMPANY
Aschinger Electric Company is among the region’s largest electrical contractors and among the largest women-owned businesses, according to the St. Louis Business Journal. It is also one of the nation’s Top 600 Specialty Contractors, according to the industry trade publication Engineering News Record (ENR). Aschinger was founded in 1940 in St. Louis and is in its fourth generation of family leadership in the electrical contracting business.
For more information, visit aschinger.com.