Chartwell is pleased to announce Mehl Electric Company, a full-service electrical contractor, has transitioned ownership to a minority Employee Stock Ownership Plan (“ESOP”). In its second generation of Bocchino family ownership, Mehl’s shareholders sought a transition strategy that would provide partial liquidity, while preserving the Company’s independence and legacy, reward and empower its dedicated employees, and ensure operational continuity under its existing leadership. The Bocchino family was committed to finding a solution that aligned the interests of all stakeholders and supported Mehl’s long-term strategic vision.
Following a comprehensive review of transition alternatives, Mehl engaged Chartwell as its exclusive financial advisor to structure and execute an ESOP transaction, as well as to arrange transaction financing with a commercial bank. Chartwell worked closely with Mehl’s leadership to evaluate multiple ESOP structures and financing alternatives, ultimately designing a minority ESOP transaction that met the Company’s objectives. The transaction resulted in the sale of a minority ownership interest to a newly established ESOP, providing meaningful liquidity to the Bocchino family while allowing them to retain significant equity and leadership roles. Chartwell also led a competitive process to secure favorable financing terms that balanced shareholder liquidity with Mehl’s ongoing capital needs.
The establishment of the minority ESOP marks a significant milestone for Mehl Electric, reinforcing its commitment to employee empowerment and shared success. By expanding ownership to its workforce, Mehl is investing in the people who have driven its growth and reputation, while positioning the Company for continued independence and long-term prosperity.
About Mehl Electric Company
Mehl Electric Company is a leading full-service electrical contractor serving the New York and New Jersey metropolitan area. For nearly 80 years, developers, general contractors, building owners, and tenants have relied on Mehl to provide reliable, cost-effective electrical installations. The Company is recognized as one of the industry’s premier electrical contractors, delivering first-rate service for many of the region’s foremost development projects, including a growing portfolio of large-scale, complex assignments across commercial, healthcare, data center, and mission-critical sectors.
Chartwell Contact
For additional information on this transaction, please contact Matt Dennison. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.