St. Louis Business Journal
Power Up Electrical Contractors has purchased Crown Electrical Contracting in St. Louis.
Power Up said the acquisition makes it the largest minority-owned, full-service electrical contractor in the St. Louis region with 30 employees and $6 million in revenue.
Founded and owned by Michael Kennedy, Jr., Power Up bought 51 percent of Crown Electrical’s stock to complete the acquisition. Kennedy is also president of St. Louis-based, minority-owned KAI Design & Build. Power Up is co-owned by minority partners Brian Arnold, former executive vice president of Paric Corp., and Gerhard Glassl, founder and president of Crown Electrical Contracting.
Power Up said its revenue has been as high as $8 million before the recession, then as low as $4 million but now is projected to hit $6 million this year.
Power Up would not disclose the acquisition price for Crown Electrical, which was founded in 1987 and headquartered at 3630 Broadway in St. Louis. Power Up said it would continue to operate out of the former Crown Electrical facility until new accommodations could be finalized.
Some of Crown Electrical’s more recent projects included the Missouri State Capital building in Jefferson City, The Willows at Brooking Park retirement community in Chesterfield, St. Gerard Majella School in Kirkwood, the Elias Haas Building in Downtown St. Louis, the Bridgeton City Hall, The Magic House in Kirkwood and the downtown St. Louis Amtrak station.
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