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Chartwell Advises Comet Electric on Sale to Third Party

May 2023

Chartwell is pleased to announce the sale of Comet Electric to an undisclosed acquirer. Chartwell served as the exclusive financial advisor to Comet, providing comprehensive, unbiased counsel to the board of directors.

The combined platforms further enhance Comet’s capabilities as well as provide economic and strategic resources to better serve its customers. Comet will expand the buyer’s geographic reach into Southern California while also providing deep experience in transportation and general electrical contracting.

Comet engaged Chartwell to lead and execute the full transaction process. With Chartwell’s in-depth expertise in M&A transactions and the construction and engineering industries, Chartwell provided objective counsel and facilitated negotiations on behalf of Comet to ensure a successful outcome.

“We couldn’t have done this without the expertise and guidance of Chartwell’s team. From the initial meeting to the final closing, Chartwell provided invaluable support and advice throughout the process. Chartwell’s M&A knowledge, professionalism, and responsiveness led to the completion of this transaction despite market changes during negotiations. With their help, we were able to find a partner that will help Comet continue to grow.”

Adam Saitman, President & CEO, Comet Electric

About Comet Electric

Based in Chatsworth, California, Comet Electric is a leading electrical design services and installation firm serving general contractor partners and end customers in the Greater Los Angeles area. The Company provides a wide array of installation and design services to the utility infrastructure, aviation, public works, public transportation, industrial, commercial, street lighting and traffic signal, and education sectors and offers design-build, design-assist, and value engineering services.

Chartwell Contact

For additional information on this transaction, please contact Wil Becker. To learn more about Chartwell’s corporate finance capabilities, contact Greg Fresh.

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