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Bear Castle Capital (“Bear Castle”) Forms New Electrical Services Platform, Allied Services Group (“Allied”), With the Acquisition of Colstrip Electrical, Inc. (“CEI”), a U.S. Electrical Services Operator

via Business Wire

Allied seeks to build a best-in-class full-service national electrical services organization.

Allied, via its acquisition of CEI, provides installation, repair and monitoring services for electrical systems throughout Montana, North Dakota, South Dakota and Wyoming

Bear Castle Capital (“Bear Castle”), the leading building industry-focused private investment firm, has launched a new electrical services platform concurrent with its acquisition of Colstrip Electrical, Inc. (“CEI”).

Founded in 1985, CEI is one of the nation’s leading full-service electrical service platforms. CEI provides engineering, design, installation, repair and monitoring services for complex electrical systems. The Company serves a blue-chip customer base with a diversified end market reach focused on the power and energy, industrial, aerospace and defense, healthcare, data center, and commercial sectors.

Robert B. Lane, Founder & Chief Executive Officer of Allied, said, “We are extremely proud to formally announce the formation of Allied and the closing of the CEI acquisition. CEI stands out for its stellar reputation, enduring customer relationships and highly skilled employee base. The Company specializes in providing electrical solutions to complex, mission critical projects and has consistently demonstrated unmatched execution in the field for over forty years. We are confident that this will be a strong partnership and Allied is committed to growing CEI.”

The entire CEI management team is remaining with the Company and is committed to growing CEI. Brent Burton, President of CEI, commented, “My family has been in the electrical services business for over 40 years. Choosing to join the Allied team was the right decision for us, especially given their commitment to our people, and their genuine emphasis on safety. We value that Allied shares our belief in the importance of team members' growth and professional development. I believe this partnership will be beneficial for our employees and allow us to continue serving our great customers and communities.”

Corey Sell, Vice President of Operations at CEI, added, “Allied’s focus on respect for the field and professional development strongly resonated with me. We are on a mission to not only be the very best electrical contractor, but also to be the very best place to work for our employees. Allied’s access to growth capital, and deep industry relationships will allow us to greatly strengthen the incredible foundation CEI has built over the last 40 years. This partnership will allow us to provide even more opportunities for our employees to better serve our customers.”

Jennifer F. Fish, Co-Founder & Managing Partner at Bear Castle, noted, “CEI delivers creative and mission-critical solutions through its highly skilled and nimble workforce. The company has a remarkable track record of demonstrated growth. It is the perfect foundation partner for our new platform Allied as we seek to build the leading electrical services provider in North America. We look forward to leveraging all of Bear Castle’s resources to drive continued execution of their customer and employee-centric operations.”

Robinson Bradshaw acted as M&A legal counsel and Jackson Walker LLP acted as corporate and financial legal counsel to Bear Castle. Verde Capital Partners provided debt financing to support the formation of the platform.

About Bear Castle Capital

Bear Castle Capital (“Bear Castle”) is the leading private building industry-focused private investment firm. Founded by Robert B. Lane and Jennifer F. Fish in 2021, Bear Castle is building America by investing in innovation and empowering industry entrepreneurs as they work to solve the building needs of our changing world.

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