HORNE Capital Closes Sale of B&B Electrical & Utility Contractors, Inc., to United Utility Services, LLC

RIDGELAND, Miss, January 7, 2021 -- HORNE Capital, a mergers and acquisitions advisory firm, is pleased to announce the acquisition of its client, B&B Electrical & Utility Contractors, Inc. (“B&B Electrical”), by United Utility Services, LLC (“United Utility”), a Bernhard Capital Partners Management, LP (“Bernhard Capital”) company.

We have always stood for delivering the highest level of service to our customers and our community. Our alignment with United Utility and Bernhard Capital is an exciting step for the future of our company and our employees.” said Brien Blakeney, president and founder of B&B.

Blakeney incorporated B&B Electrical in 1985 after starting as a small residential electrical service provider three years earlier. Since then, the family-operated company expanded into commercial and industrial markets, worked with municipalities and counties, and eventually entered the electrical utility industry, becoming a one-stop electrical contractor.

B&B’s industry leadership over the last 35 years, combined with its regional expertise and reputation created a compelling opportunity for United Utility and Bernhard Capital, even during these uncertain times,” said Josh Edwards, Firmwide Director of HORNE Capital. “We enjoyed working with Brien and the B&B team to find the right strategic partner for B&B’s future growth, and we anticipate continued success for the company moving forward.”

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About HORNE Capital: HORNE Capital is a Mississippi-based investment banking firm that offers financial advice on divestitures, mergers and acquisitions, and valuations for lower-to-middle-market companies. www.hornecapital.com

About B&B Electrical: Located in Brandon, Mississippi, B&B Electrical provides new construction, renovation, and service upgrades for commercial and industrial facilities, overhead and underground power distribution, substations, traffic signalization, street lighting, and outdoor lighting. www.bbecon.com

About United Utility: Located in Charlotte, North Carolina, United Utility provides power and electric utility installation and maintains, manages, and installs cables, streetlights, and more. www.unitedutility.com

About Bernhard Capital: A Louisiana-based services-focused private equity management firm established in 2013, Bernhard Capital seeks to create sustainable value by leveraging its founding partners' experience in acquiring, operating and growing services businesses. www.bernhardcapital.com