August, 2026. The Peakstone Group, LLC announced today that it served as exclusive financial advisor to Schmidt Electric Company, Inc. (“Schmidt Electric”), a leading union electrical contractor based in Austin, Texas, in connection with its acquisition by EMCOR Group, Inc. (“EMCOR”), a Fortune 500 company and leader in mechanical and electrical construction services, industrial and energy infrastructure and building services.
Schmidt Electric was founded by Bobby Schmidt in 1984 and acquired by Ben Frank in 2017. Today, the company self-performs electrical work on many of the premier, high profile regional projects for end users in the healthcare, state and local government, semiconductor, airport, industrial and data center sectors with a workforce of over 400 IBEW union electricians. Schmidt Electric differentiates itself by self-performing a full range of medium and low voltage electrical contracting services for the largest general contractors and end users in Austin, San Antonio, Houston and surrounding areas.
“Joining EMCOR represents an exciting next chapter for Schmidt Electric, our employees, and our customers,” said Ben Frank, CEO of Schmidt Electric. “Peakstone was an invaluable resource for us as we navigated the sale process.”
“We formed Peakstone with a vision of providing high-quality, sophisticated advisory services to entrepreneur and family-owned businesses” said Stephen Sleigh, Managing Partner of Peakstone. “It was our privilege to advise Ben and his family on a once-in-a-lifetime transaction that enabled them to ensure the long-term legacy of Schmidt Electric for its employees.”
About Schmidt Electric
Schmidt Electric Company, Inc. is a leading full service, self-performing union electrical contractor in Austin, San Antonio and Houston, Texas. Founded in 1984, Schmidt works with the largest general contractors and marquee end customers regionally. Schmidt is a member of the International Brotherhood of Electrical Workers and employees over 400 union electricians. For more information, please visit www.schmidt-electric.com.
About Peakstone
The Peakstone Group, LLC is a leading middle market investment bank focused on entrepreneur and family-owned businesses. The firm is headquartered in Chicago with over 50 professionals. Since its founding in 2009, Peakstone has advised over 300 clients on M&A and capital raising engagements. For more information, please visit www.peakstonegroup.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com.