Evergreen Advisors Capital, a middle-market investment bank based in Columbia, has announced that Chesapeake Electrical Systems has been acquired by Illinois-based Aldridge Electric. Evergreen acted as the exclusive financial adviser to Chesapeake. Terms of the transaction were not disclosed.
Chesapeake, of Laurel, provides a range of electrical contracting services to various clients in the commercial and industrial sectors. Founded in 1993, the company has completed contracts on some of the region’s most recognizable landmarks, including Dulles International and Ronald Reagan National airports, the M&T Bank Stadium, Walter E. Washington Convention Center and the Washington Beltway Express Lanes.
“This is great news for our customers and our employees as Aldridge sees tremendous potential in having Chesapeake as their platform for growth in the Washington/Baltimore region,” said Joey Tominovich, president and CEO of Chesapeake. “Furthermore, Aldridge shares our vision in taking care of their employees and providing opportunities for them to advance and grow professionally.”