Area Energy & Electric sells company division


Weigandt

Weigandt


SIDNEY — Area Energy & Electric Inc., a large electrical/mechanical contractor with headquarters located in Sidney, Ohio, has announced the recent sale of one of its company divisions.

In 2010 Todd Weigandt, Ken Schlater and Barry Willoughby co-founded a new company in Sidney, Ohio, and named it Power Solutions Group. This new company was originally founded as an electrical engineering consulting firm. Power Solutions Group originally provided electrical design services for architects, contractors looking to build new construction projects, and commercial/industrial manufacturing companies thru out west central Ohio.

Weigandt’s report continues:

The new company provided electrical design consultation, complete design drawings for each project, and a professional engineering stamp required to obtain state of Ohio building permits. Their new company rapidly grew with Weigandt and Schlater providing many years of electrical and mechanical contracting and construction experience and Willoughby proving engineering solutions. As the new company grew additional engineers were hired along with technical personnel to keep up with the growing demands of the new company. The new company expanded quickly and was growing out of the office/shop space at their Sidney, Ohio location. In an effort to take a major step in growth the majority of the company stock was acquired by Area Energy & Electric in an effort to share resources to help grow the company.

In 2013 A decision was made to build a new 12,000-square-foot office building and technical shop on Kerr Road in Tipp City, Ohio. Willoughby was named the president of the new division and Weigandt and Schlater were appointed to the board of directors.

The company again expanded its services to include electrical service analyzation, arch flash and power studies, high voltage transformer reconditioning for power companies, high voltage maintenance, electrical switch gear and panel reconditioning, and eventually sub-station design and construction. Their staff and customer base continued to expand rapidly. With business swift at the Tipp City location the company added a branch location in Columbus, Ohio, in 2014. This new location was key to helping the company hire the additional engineers and technicians needed to keep up with the growing customer requests including picking up several key accounts near the Columbus office, including Amazon and Facebook which had recently opened large facilities in Columbus, Ohio.

In 2015 in another key move a branch office was opened in Piedmont, South Carolina, and then in 2018 another location in Clarksville, Tennessee. These two newer branch locations were key to serving a large growing customer base in the southern region of the United States. The company also acquired it’s NETA certification thru the National Electrical Testing Association. With four locations in three states and a staff of over 50 engineers and field technicians the company attracted national attention.

The company was eventually approached about a potential purchase by a large electrical engineering and testing firm out of Boston, Massachusetts. After much discussion and negotiation Power Solutions Group was sold in 2021 to Copley Equity Partners. At the time of the sale Power Solutions Group had a full-time staff of 53 employees, a full fleet of trucks and equipment, and four key locations. All 53 employees along with Barry Willoughby went to work for Magna IV USA owned by Copley Equity Partners.

Todd Weigandt still remains CEO, president, and majority owner of Area Energy and Electric Inc. and Ken Schlater is retired and remains on the Area Electric Board of Directors. Area Energy & Electric Inc. also owns Regal Plumbing & Heating Co., Ohio Valley Integration Services Inc., and Area Wireless. The company operates out of eight locations thru out Ohio and currently has 450 employees offering electrical, mechanical, HVAC, fabrication, plumbing, and low voltage installations in the residential, commercial, industrial, and institutional markets along with cell phone sales and services. Business remains very brisk, and the company still continues to grow.

Our company philosophy has always been to take care of every customer big or small to the best of our ability and to treat each and every employee with the upmost respect and integrity. This continues to be the key to our success.

Joe Lachey is the company’s vice president and manages all branch operations, Brian Moloney is the electrical division manager, and Mike Marshall is the mechanical division manager.

Area’s goals for the future is to continue to attract, train, and retain each and every employee. The company continues to grow so it can offer opportunities for advancement for each employee and to make room for entry level apprentices to advance within the company.

Weigandt
https://www.sidneydailynews.com/wp-content/uploads/sites/47/2022/02/web1_Todd-27s-Professional-Picture.jpgWeigandt