Key Takeaways
- • Loenbro, majority-owned by Kohlberg & Company as of December 2025, has acquired Prism Electric, a Dallas-based electrical contractor with approximately 2,500 employees, marking Loenbro's largest acquisition to date with no transaction value disclosed.
- • Prism Electric, founded in 1994 by Blake Combs, operates across Texas and Oklahoma with six offices and serves critical infrastructure including hospitals, data centers, airports, and advanced manufacturing facilities, with notable projects including Dallas Fort Worth International Airport and Dell Children's Medical Center North.
- • The acquisition significantly expands Loenbro's geographic footprint across the Southern U.S. and complements its existing capabilities in electrical, mechanical, and structural services across 15 industries, following a series of prior acquisitions under Braemont and Kohlberg ownership (Switch Electric, Revolution Industrial, Stewart Electric, and Weifield Group).
- • U.S. electrical contracting market fundamentals remain strong, with IBISWorld reporting 2026 revenue of $347.5 billion and projected growth to $360 billion by 2031; data center electrical work is accelerating, with U.S. data center construction spending reaching an annualized $50.7 billion in April 2026, up 27% year-over-year.
- • The transaction reflects sustained private equity interest in electrical contracting services, consistent with Kohlberg's strategic focus on infrastructure and industrial services, following comparable deals including Blackstone's $1.6 billion acquisition of Shermco and Kohlberg's earlier investment in RESA Power.
Summary
Loenbro, backed by Kohlberg & Company's majority stake acquired in December 2025, has completed its largest acquisition with the purchase of Prism Electric, a Texas-based electrical services contractor employing approximately 2,500 workers. The transaction represents a strategic consolidation within the regional electrical contracting market and extends Loenbro's operational reach across the Southern United States. Prism operates from six offices in Dallas, Fort Worth, Houston, Austin, Oklahoma City, and Tulsa, serving commercial, institutional, and industrial customers.
Prism Electric, founded in 1994 by Blake Combs, has established a diversified service portfolio encompassing design, installation, and maintenance of electrical systems across hospitals, data centers, airports, schools, manufacturing facilities, hotels, and office buildings. The company's service spectrum includes preconstruction planning, 3-D virtual design, shop-based prefabrication of electrical components, 24-hour emergency service, medium-voltage and low-voltage technology systems, and building security and communications cabling. Notable completed projects include the Moody Center arena in Austin, Dallas Fort Worth International Airport, Dell Children's Medical Center North in Austin, and the WinStar casino resort in Oklahoma.
Loenbro, founded in 2000 and headquartered in Westminster, Colorado, operates across 15 industries including data centers, advanced manufacturing, aviation, chemicals, healthcare, mining, oil and gas, pharmaceuticals, power generation, renewable energy, semiconductors, and water treatment. Under Kohlberg's majority ownership and Braemont Capital's retained minority stake, Loenbro has executed a consolidation strategy, folding Switch Electric (Arizona), Revolution Industrial (Arizona), Stewart Electric (Nevada), and Weifield Group (Colorado) into a unified Loenbro brand in March 2026. This acquisition of Prism significantly amplifies Loenbro's scale and Southern U.S. market penetration.
The electrical contracting sector demonstrates sustained growth momentum. IBISWorld reports 2026 revenue of $347.5 billion for U.S. electrical services, with historical growth averaging 4.8% annually over the past five years. Cascade Partners projects the broader electrical contracting market will expand from approximately $312 billion in 2025 to $360 billion by 2031. Data center electrical infrastructure represents the highest-growth segment, with U.S. data center construction spending reaching an annualized $50.7 billion in April 2026, representing 27% year-over-year growth and surpassing general office construction for the first time. McKinsey estimates global data center capital requirements will reach $6.7 trillion through 2030, with $1.3 trillion allocated to AI-related power, cooling, and electrical infrastructure.
The transaction reflects sustained private equity capital deployment in electrical services infrastructure. Comparable recent transactions include Blackstone's August 2025 agreement to acquire Shermco, a Texas-based electrical testing and maintenance company, from Gryphon Investors for approximately $1.6 billion, and Kohlberg's April 2025 acquisition of a majority stake in RESA Power, a Texas-based electrical testing and transformer services company, from Investcorp. Kohlberg's tenth fund, which closed in September 2024, raised $4.3 billion plus $1.0 billion in co-investment capital, positioning the firm for continued infrastructure and industrial services investments within its target enterprise value range of $500 million to $5 billion.
Prism Electric, founded in 1994 by Blake Combs, has established a diversified service portfolio encompassing design, installation, and maintenance of electrical systems across hospitals, data centers, airports, schools, manufacturing facilities, hotels, and office buildings. The company's service spectrum includes preconstruction planning, 3-D virtual design, shop-based prefabrication of electrical components, 24-hour emergency service, medium-voltage and low-voltage technology systems, and building security and communications cabling. Notable completed projects include the Moody Center arena in Austin, Dallas Fort Worth International Airport, Dell Children's Medical Center North in Austin, and the WinStar casino resort in Oklahoma.
Loenbro, founded in 2000 and headquartered in Westminster, Colorado, operates across 15 industries including data centers, advanced manufacturing, aviation, chemicals, healthcare, mining, oil and gas, pharmaceuticals, power generation, renewable energy, semiconductors, and water treatment. Under Kohlberg's majority ownership and Braemont Capital's retained minority stake, Loenbro has executed a consolidation strategy, folding Switch Electric (Arizona), Revolution Industrial (Arizona), Stewart Electric (Nevada), and Weifield Group (Colorado) into a unified Loenbro brand in March 2026. This acquisition of Prism significantly amplifies Loenbro's scale and Southern U.S. market penetration.
The electrical contracting sector demonstrates sustained growth momentum. IBISWorld reports 2026 revenue of $347.5 billion for U.S. electrical services, with historical growth averaging 4.8% annually over the past five years. Cascade Partners projects the broader electrical contracting market will expand from approximately $312 billion in 2025 to $360 billion by 2031. Data center electrical infrastructure represents the highest-growth segment, with U.S. data center construction spending reaching an annualized $50.7 billion in April 2026, representing 27% year-over-year growth and surpassing general office construction for the first time. McKinsey estimates global data center capital requirements will reach $6.7 trillion through 2030, with $1.3 trillion allocated to AI-related power, cooling, and electrical infrastructure.
The transaction reflects sustained private equity capital deployment in electrical services infrastructure. Comparable recent transactions include Blackstone's August 2025 agreement to acquire Shermco, a Texas-based electrical testing and maintenance company, from Gryphon Investors for approximately $1.6 billion, and Kohlberg's April 2025 acquisition of a majority stake in RESA Power, a Texas-based electrical testing and transformer services company, from Investcorp. Kohlberg's tenth fund, which closed in September 2024, raised $4.3 billion plus $1.0 billion in co-investment capital, positioning the firm for continued infrastructure and industrial services investments within its target enterprise value range of $500 million to $5 billion.
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