Sell Your Electrical Business in Nevada, 76+ Active PE Buyers, $0 Seller Fees

Selling an electrical contracting business in Nevada in 2026 sits at the intersection of generational demand growth and zero state income tax. Nevada electrical M&A combines Las Vegas gaming and hospitality (MGM, Caesars, Wynn, Sands, Las Vegas Sands, MGM Cosmopolitan), accelerating data center buildouts (Switch Las Vegas Citadel Campus is one of the largest data center campuses in the world; plus Google, Vantage, EdgeConneX, Aligned), Tahoe Reno Industrial Center (Tesla Gigafactory $5B+, Switch Citadel Reno, Google Reno, Apple Reno), Reno tech corridor, mining (gold mining throughout the state), and sustained population growth across Las Vegas, Henderson, Reno, and Sparks.

This guide is for Nevada electrical contractor owners running between $1M and $50M of revenue. We’ll walk through Nevada State Contractors Board (NSCB) C-2 Electrical licensing under NRS Chapter 624, the after-tax math at NV’s zero state income tax, segment dynamics across residential, commercial, gaming/hospitality, Las Vegas data center, Tahoe Reno Industrial Center, and the 18-24 month preparation playbook.

The framework draws on direct work with 76+ active U.S. lower middle market buyers, including major Western and NV-active acquirers. We’re a buy-side partner. The buyers pay us when a deal closes, not you. Of our 76+ buyers, 11 actively bid on Nevada electrical in 2024-2026: IES Holdings (NYSE: IESC), MYR Group (NASDAQ: MYRG), EMCOR Group (NYSE: EME), Comfort Systems USA (NYSE: FIX), APi Group (NYSE: APG), Sila Services West, Bernhard Capital Partners, Wynnchurch Capital, plus 3 regional Western rollups.

One realistic note before you start. Nevada electrical has structural tailwinds rivaling Texas and Arizona. Switch’s Las Vegas Citadel Campus alone is one of the largest data center campuses in the world. Tesla Gigafactory Reno expansion is multi-decade. The right Nevada electrical contractor in the right segment can clear premium multiples that beat most Western state comparables.

“Nevada electrical M&A is structurally underrated. Las Vegas data center activity (Switch’s 2M+ sq ft Citadel Campus is one of the largest in the world), Tesla Gigafactory and Tahoe Reno Industrial Center, gaming and hospitality, and zero state income tax all combine to create premium opportunities. Many California sellers relocate to Nevada 18-24 months pre-sale to capture the no-tax premium. We’re a buy-side partner working with 76+ active buyers, including 11 with current Nevada electrical mandates, the buyers pay us, not you, no contract required.”

Key Takeaways

• Nevada electrical PE/strategic activity: 11 of our 76+ buyers actively bid on NV electrical in 2024-2026, including IES Holdings (NYSE: IESC), MYR Group (NASDAQ: MYRG), EMCOR (NYSE: EME), Comfort Systems USA (NYSE: FIX), APi Group, Sila Services West, Bernhard Capital, Wynnchurch Capital, plus 3 regional Western rollups.
• Nevada State Contractors Board (NSCB) administers electrical contractor licensing under NRS Chapter 624. C-2 (Electrical) license category. Qualified Employee is personal, license does NOT transfer with the entity in an asset sale.
• Zero Nevada state income tax delivers $300K-$1.3M of additional after-tax proceeds on a $3-$10M sale versus CA/NY/NJ sellers.
• NV electrical multiples by size and segment: sub-$2M revenue residential = 0.5-1.0x revenue / 3-4.5x SDE; $1M-$3M EBITDA commercial/industrial = 5.5-7x EBITDA; $3M+ EBITDA data center / gaming / industrial specialists = 6.5-9x EBITDA.
• Las Vegas data center electrical (Switch Citadel Campus, Google, Vantage, EdgeConneX, Aligned) and Tahoe Reno Industrial Center electrical (Tesla, Switch, Google, Apple) command premium 7-9x EBITDA.
• Right-to-work Nevada has limited IBEW union penetration outside specific commercial/gaming niches. Multiemployer pension exposure is smaller than CA/IL/NY but applies for Las Vegas (IBEW Local 357) and Reno (Local 401) union shops.

Why Nevada electrical contractor M&A is one of the fastest-growing Western markets

NV electrical contractor M&A combines Las Vegas gaming/hospitality, data center demand, Tahoe Reno Industrial Center, and zero state income tax. Las Vegas Strip gaming and hospitality (MGM Resorts, Caesars Entertainment, Wynn, Sands, Boyd Gaming, Station Casinos) drives sustained casino, hotel, and convention electrical demand. Switch’s Las Vegas Citadel Campus is one of the largest data center campuses in the world. Google, Vantage, EdgeConneX, Aligned all have Las Vegas data center operations. Tahoe Reno Industrial Center hosts Tesla Gigafactory ($5B+), Switch Citadel Reno (one of the largest data centers in the world), Google Reno, Apple Reno. Reno tech corridor is growing rapidly.

Active PE-backed and strategic Nevada electrical buyers. IES Holdings (NYSE: IESC), MYR Group (NASDAQ: MYRG), EMCOR Group (NYSE: EME), Comfort Systems USA (NYSE: FIX), APi Group (NYSE: APG) are all active. PE platforms: Sila Services West, Bernhard Capital Partners, Wynnchurch Capital. Plus 3 regional Western consolidators.

What this means for NV electrical contractor sellers. If you’re running a $1M+ EBITDA commercial or industrial electrical contractor in Las Vegas, Henderson, Reno, or Sparks, you should expect 4-7 IOIs. Data center, Tesla Gigafactory-adjacent, or premier gaming specialty contractors clear premium multiples.

Nevada State Contractors Board (NSCB) C-2 Electrical licensing under NRS Chapter 624

Nevada electrical contractor licensing is administered by the Nevada State Contractors Board (NSCB) under NRS Chapter 624. C-2 (Electrical) is the relevant license category. Each license requires a Qualified Employee with 4+ years of qualifying experience and a passed NSCB exam plus business management exam. License is personal.

What this means in a sale: the Qualified Employee is personal. License stays with the entity in a stock sale (subject to NSCB notification). Qualified Employee is personal. Buyers handle this three ways: designate an existing employee, hire a qualifying party, or have you remain as Qualified Employee for 6-24 months.

How to handle NSCB licensing 12-24 months before sale. Identify a senior electrician with 4+ years of qualifying experience. Support through NSCB exam. Once you have a second Qualified Employee, your buyer pool widens dramatically.

NSCB enforcement and complaint history. Buyers will pull the NSCB licensee record. Resolve any open matters before going to market.

Nevada electrical segment dynamics: residential, commercial, gaming/hospitality, Las Vegas data center, Tahoe Reno Industrial Center

NV electrical M&A divides into five distinct segments. Las Vegas data center and Tahoe Reno Industrial Center are the premium segments.

Residential service electrical: 4-5.5x EBITDA platform / 3-4.5x SDE owner-op. Buyer pool: regional residential rollups (Sila Services West), search funders, SBA individuals. Premium for shops in Las Vegas / Henderson or Reno / Sparks.

Commercial electrical: 5-6.5x EBITDA platform. Tenant fit-outs, retail, hospitality (huge in NV), office, healthcare. Buyer pool: Sila Services West, regional commercial rollups, public strategic acquirers.

Gaming and hospitality electrical: 5.5-7x EBITDA platform. Las Vegas Strip casinos, downtown Las Vegas, Reno casinos. Specialty work includes high-density power systems for slot floors, casino IT/data center hybrid systems, hospitality MEP. Buyer pool: regional NV operators, specialty PE.

Las Vegas data center electrical: 7-9x EBITDA platform. Switch Las Vegas Citadel Campus (one of the largest data center campuses in the world), Google Las Vegas, Vantage, EdgeConneX, Aligned. Buyer pool: specialized data center electrical platforms, IES Holdings (with dedicated data center capability).

Tahoe Reno Industrial Center (TRIC) electrical: 7-9x EBITDA platform. Tesla Gigafactory ($5B+ multi-phase), Switch Citadel Reno, Google Reno, Apple Reno, plus dozens of other industrial tenants. Buyer pool: industrial-focused PE, public strategic acquirers (IES, MYR, EMCOR, APi).

Who actually buys Nevada electrical businesses in 2026

The NV electrical buyer pool divides into five archetypes. NV has fewer total buyers than Texas or Florida but the buyers who participate pay specialty premiums for data center and Tahoe Reno work.

Archetype 1: Public strategic acquirers (IES, MYR, EMCOR, Comfort Systems, APi). All highly active in NV. Typical target: $2M-$20M EBITDA. Multiples: 6-9x EBITDA at platform scale (7-9x for data center / TRIC). Close timeline: 90-180 days.

Archetype 2: PE-backed Western electrical consolidators. Sila Services West, Bernhard Capital Partners, Wynnchurch Capital. Plus 3 regional Western consolidators. Typical target: $1M-$10M EBITDA. Multiples: 5.5-8x EBITDA.

Archetype 3: Search funders pursuing NV commercial/industrial electrical. NV is moderately popular for searchers. Typical target: $750K-$3M EBITDA. Multiples: 4.5-6.5x EBITDA.

Archetype 4: SBA 7(a) individuals. NV is one of the most active SBA-buyer markets given lifestyle and tax appeal. Typical target: $200K-$700K SDE residential. Multiples: 2.5-4x SDE.

Archetype 5: Family offices and strategic regional NV operators. Las Vegas family offices pursue mid-size electrical contractors. Multiples: 4-7x EBITDA.

NV electrical buyer archetype	Typical multiple	Deal structure norms	Close timeline
Public strategic (IES, MYR, EMCOR, FIX, APi)	6-9x EBITDA (7-9x data center/TRIC)	Cash-heavy	90-180 days
PE rollup (Sila West, Bernhard, Wynnchurch)	5.5-8x EBITDA	Cash + 15-30% rollover + earnout	90-150 days
Search funder	4.5-6.5x EBITDA	Senior debt + seller note + earnout	120-180 days
SBA 7(a) individual (residential)	2.5-4x SDE	10% buyer equity, 20-30% seller note	60-120 days
Family office / strategic NV regional	4-7x EBITDA	Cash + 25-40% rollover	60-180 days

Buyer type	Cash at close	Rollover equity	Exclusivity	Best fit for
Strategic acquirer	High (40–60%+)	Low (0–10%)	60–90 days	Sellers who want a clean exit; competitor or upstream consolidator
PE platform	Medium (60–80%)	Medium (15–25%)	60–120 days	Sellers willing to hold rollover for the second sale; bigger deals
PE add-on	Higher (70–85%)	Low–Medium (10–20%)	45–90 days	Sellers folding into existing platform; faster process
Search fund / ETA	Medium (50–70%)	High (20–40%)	90–180 days	Legacy-conscious sellers wanting an owner-operator successor
Independent sponsor	Medium (55–75%)	Medium (15–30%)	60–120 days	Sellers OK with deal-by-deal capital and longer financing closes

Realistic Nevada electrical multiples by size and segment

NV electrical multiples vary by segment and metro. Las Vegas and Tahoe Reno carry premiums versus secondary metros.

Sub-$1M revenue residential service: 0.4-0.7x revenue / 2.5-3.5x SDE. Micro-shops sold to SBA buyers.

$1M-$3M revenue residential or light commercial: 0.5-1.0x revenue / 3-4.5x SDE. Core SBA buyer territory.

$3M-$10M revenue / $500K-$2M EBITDA commercial/industrial: 5-7x EBITDA. Wider buyer pool. Multiples accelerate with data center adjacency, gaming customer relationships, TRIC industrial work.

$10M-$30M revenue / $2M-$5M EBITDA industrial/commercial: 6-8.5x EBITDA. Platform territory.

$30M+ revenue / $5M+ EBITDA data center / Tesla / industrial specialty: 7-10x EBITDA. Platform-of-the-platform deals.

NV electrical business profile	Revenue multiple range	SDE/EBITDA multiple range	Dominant buyer pool
Sub-$1M revenue residential	0.4-0.7x revenue	2.5-3.5x SDE	SBA individual
$1M-$3M revenue residential/commercial	0.5-1.0x revenue	3-4.5x SDE	SBA + search funder
$3M-$10M / $500K-$2M EBITDA	0.7-1.2x revenue	5-7x EBITDA	Search, indie sponsor, PE add-on, public strategic
$10M-$30M / $2M-$5M EBITDA	0.8-1.4x revenue	6-8.5x EBITDA	PE rollup, public strategic
$30M+ / $5M+ EBITDA data center / TRIC industrial	1.0-1.6x revenue	7-10x EBITDA	Public strategic, PE platform-of-platform

Zero state income tax: the Nevada after-tax math

Nevada has no state personal income tax and no state capital gains tax. On a $5M business sale where the gain is primarily long-term capital, federal capital gains (15-20% plus 3.8% NIIT) applies but state-level capital gains tax is zero. Compare to California (12.3-13.3%), New York (10.9%), New Jersey (10.75%). On $5M gain, NV sellers keep $300K-$650K more than coastal sellers; on $10M gain, $600K-$1.3M differential.

Why NV is attractive to relocating sellers. NV residency is well-established and easily defensible. Many California sellers relocate to Las Vegas, Henderson, or Reno 18-24 months pre-sale. The Nevada Modified Business Tax (MBT) applies during operations but doesn’t directly tax the gain on sale.

Asset allocation for NV sellers. NV’s zero state tax means the federal allocation matters more. Engage tax counsel for typical $50K-$300K of optimization on mid-size deals.

Las Vegas data center and Tahoe Reno Industrial Center: NV’s premium segments

Las Vegas data center electrical is one of the highest-multiple segments in NV electrical. Switch’s 2M+ sq ft Citadel Campus is one of the largest data center campuses in the world. Plus Google, Vantage, EdgeConneX, Aligned, and others. Documented Las Vegas data center electrical work commands 7-9x EBITDA.

Tahoe Reno Industrial Center (TRIC). Storey County, NV. Hosts Tesla Gigafactory ($5B+ multi-phase, with Tesla 4680 cell production and Tesla Semi production), Switch Citadel Reno (one of the largest data centers in the world at 1.6M sq ft), Google Reno, Apple Reno (data center). TRIC electrical work commands 7-9x EBITDA premium.

How to position for NV premium segments. Document specific data center, Tesla, or TRIC project work, certifications, manufacturer relationships. The positioning leverage is enormous.

Service mix and recurring revenue in NV electrical

Recurring service revenue is the highest-leverage multiple driver in NV electrical M&A. 30%+ recurring service revenue trades at 0.5-1.0x EBITDA premium. NV-specific recurring opportunities: Las Vegas Strip casino service contracts (MGM, Caesars, Wynn, Sands, Boyd, Station), Las Vegas data center service contracts (Switch, Google, Vantage), TRIC industrial service contracts (Tesla, Switch, Google, Apple).

What NV electrical buyers value most. Recurring data center / casino / TRIC industrial service contracts; specialty certifications (data center MEP, NFPA 70E, manufacturer certifications); electrician retention; NSCB license depth.

How to reposition mix in 18-24 months pre-sale. Aggressively grow recurring contracts. Returns 1-2x EBITDA in higher offers.

What NV electrical buyers diligence: the checklist

NV electrical diligence is consistent with national norms with NV-specific overlays. Standard diligence plus NSCB licensing, gaming industry customer concentration, data center / TRIC verification, NV Modified Business Tax compliance.

Earnings quality and add-back validation. 24-36 months of P&Ls. NV Department of Taxation Modified Business Tax filings. CPA-prepared statements.

Revenue mix, customer concentration, federal compliance. Service vs project breakdown. Las Vegas casino, Las Vegas data center, TRIC industrial customer concentration disclosure. Federal Davis-Bacon for federal projects (Nellis AFB, Creech AFB, Hawthorne Army Depot).

Electrician headcount, productivity, retention, NSCB licensing. Electrician roster. NV-specific: NSCB C-2 license documentation, Qualified Employee documentation.

License, permits, insurance, NV regulatory. NSCB C-2 license. NV workers’ comp. Federal Davis-Bacon. Multiemployer pension if union (IBEW Local 357 Las Vegas, Local 401 Reno).

Component	Typical share of price	When you actually receive it	Risk to seller
Cash at close	60–80%	Wire on closing day	Low, this is real money
Earnout	10–20%	Over 18–24 months, performance-based	High, routinely paid out at less than face value
Rollover equity	0–25%	At the next platform sale (typically 4–6 years)	Variable, can multiply or go to zero
Indemnity escrow	5–12%	12–24 months after close (if no claims)	Medium, usually returned, sometimes contested
Working capital peg	+/- 2–7% of price	Adjustment at close or 30-90 days post	High, methodology disputes are common

The 18-24 month preparation playbook for NV electrical sellers

NV electrical contractors who do real 18-24 month preparation routinely sell for 1.5-3x EBITDA more. Standard playbook applies.

Months 24-18: financial cleanup and segment positioning. Move to monthly closes. CPA-prepared statements. Document add-backs. Begin segment positioning analysis (residential, commercial, gaming/hospitality, data center, TRIC industrial).

Months 18-12: NSCB licensing, customer diversification, data center/TRIC documentation. Identify a senior electrician for NSCB Qualified Employee succession. Diversify customer concentration. Document data center, casino, or TRIC work specifically.

Months 12-6: reduce owner dependency. Document SOPs. Promote/hire general manager.

Months 6-0: data room, CIM, buyer-pool targeting. Compile records. Build CIM emphasizing data center for IES, TRIC industrial for industrial-focused PE, gaming for specialty platforms. Engage tax counsel.

NV electrical sale process timeline

NV electrical sale processes run 7-10 months for sub-$1M EBITDA and 10-13 months for $1M+ platform deals. Data center and TRIC specialty deals can run longer because of customer relationship verification.

Months 1-2: positioning and outreach. Reach out to public strategics (IES, MYR, EMCOR, Comfort Systems USA, APi), PE rollups (Sila West, Bernhard, Wynnchurch), search funders, SBA buyers, family offices.

Months 2-4: management meetings and IOIs. Take 4-7 buyer meetings. 3-5 IOIs.

Months 4-8: LOI, diligence, financing, NSCB planning. Sign LOI. Buyer-side diligence: financial QoE; NSCB license review; data center / TRIC customer verification; Davis-Bacon for federal projects.

Months 8-10: definitive agreement and close. Negotiate purchase agreement. NSCB change-of-control filings.

Months 10+: transition. Post-close transition 90-180 days. Earnout periods 12-36 months.

Sell Your Electrical Business in Other States: Sibling Guides

Sibling state guides for selling a electrical business. Each guide below covers state-specific licensing, multiple ranges, tax considerations, and named PE buyers active in that geography. If you operate in multiple states, the multi-state premium typically adds 0.5-1.5x to EBITDA multiple at exit (buyers value contiguous coverage).

State-by-state guides: Sell Your Electrical Business in Texas · Sell Your Electrical Business in Florida · Sell Your Electrical Business in California · Sell Your Electrical Business in New York · Sell Your Electrical Business in Pennsylvania · Sell Your Electrical Business in Illinois · Sell Your Electrical Business in Ohio · Sell Your Electrical Business in Georgia

For valuation context that applies regardless of state: See our electrical business valuation guide for nationwide multiple ranges and PE buyer pool. Run our free 90-second valuation calculator for a starting-point estimate. Or browse the full sell-your-business hub for all verticals and states.

Common mistakes NV electrical sellers make

Mistake 1: ignoring NSCB Qualified Employee succession until LOI. Address 18-24 months pre-sale.

Mistake 2: not documenting Las Vegas data center or TRIC work specifically. Switch, Google, Tesla Gigafactory work commands 7-9x EBITDA. Document specific projects and certifications.

Mistake 3: positioning as wrong segment. An NV data center or TRIC contractor positioned as residential gets 4-5x EBITDA. Positioned correctly: 7-9x EBITDA.

Mistake 4: over-relying on gaming concentration. MGM, Caesars, Wynn customer concentration above 30% compresses multiples. Diversify.

Mistake 5: not addressing Davis-Bacon for NV federal projects. Nellis AFB, Creech AFB, Hawthorne Army Depot. Federal compliance must be airtight.

Mistake 6: missing IES Holdings data center capability. IES is the most active U.S. public acquirer with dedicated data center capability. Generic brokers miss this.

Mistake 7: running generic NV broker auction. Targeted, relationship-led processes consistently produce 1-2x EBITDA more.

Sell Your Electrical Business in Nevada: 2026 Outlook and Key Takeaways

Selling an electrical business in Nevada in 2026 is one of the most attractive Western U.S. electrical M&A opportunities. Las Vegas gaming and hospitality demand, accelerating data center buildouts (Switch Citadel, Google, Vantage, EdgeConneX, Aligned), Tahoe Reno Industrial Center (Tesla Gigafactory, Switch Citadel Reno, Google, Apple), zero state income tax, and a relatively shallow buyer pool create premium opportunities for the right operators. Address NSCB Qualified Employee succession 18+ months pre-sale. Document data center or TRIC work specifically. Realistic 2026 multiples: 2.5-4x SDE for sub-$1M residential; 5-7x EBITDA for $1M-$3M commercial/industrial; 6-8x EBITDA for industrial; 7-9x EBITDA for Las Vegas data center and TRIC industrial specialists. Of our 76+ buyers, 11 actively bid on NV electrical contracting in 2024-2026.

Sell Your Electrical Business in Nevada: Frequently Asked Questions

How much is my electrical business in Nevada worth?

Sub-$1M revenue residential: 0.4-0.7x revenue or 2.5-3.5x SDE. $1M-$3M: 0.5-1.0x revenue or 3-4.5x SDE. $3M-$10M / $500K-$2M EBITDA: 5-7x EBITDA. $10M-$30M / $2M-$5M EBITDA: 6-8.5x EBITDA. $30M+ data center / TRIC industrial / specialty: 7-10x EBITDA.

How does Nevada NSCB C-2 electrical contractor license transfer?

C-2 license stays with the entity in a stock sale (subject to NSCB notification). Qualified Employee is personal and does NOT transfer. Buyers handle this three ways: designate an existing licensed employee, have a buyer’s qualifying party pass the NSCB exam (4+ years experience), or seller remains as Qualified Employee for 6-24 months. Address 18-24 months pre-sale.

Why are Nevada electrical multiples competitive?

Las Vegas gaming and hospitality demand, accelerating data center buildouts (Switch Las Vegas Citadel Campus is one of the largest in the world, plus Google, Vantage, EdgeConneX, Aligned), Tahoe Reno Industrial Center (Tesla Gigafactory, Switch Reno, Google, Apple), and zero state income tax all combine to drive premium multiple opportunities.

Who actually buys Nevada electrical contractors in 2026?

Five archetypes: public strategics (IES Holdings NYSE: IESC, MYR Group NASDAQ: MYRG, EMCOR Group NYSE: EME, Comfort Systems USA NYSE: FIX, APi Group NYSE: APG); PE rollups (Sila Services West, Bernhard Capital Partners, Wynnchurch Capital, regional Western rollups); search funders; SBA 7(a) individuals; family offices and strategic regional NV operators. Of our 76+ buyers, 11 actively bid on NV electrical in 2024-2026.

What about Las Vegas data center electrical specifically?

Switch’s 2M+ sq ft Citadel Campus in Las Vegas is one of the largest data center campuses in the world. Plus Google Las Vegas, Vantage, EdgeConneX, Aligned. Documented Las Vegas data center electrical work commands 7-9x EBITDA premium.

What about Tahoe Reno Industrial Center (TRIC) electrical?

TRIC in Storey County, NV hosts Tesla Gigafactory ($5B+ multi-phase), Switch Citadel Reno (1.6M sq ft, one of the largest data centers in the world), Google Reno, Apple Reno data center. TRIC electrical work commands 7-9x EBITDA premium.

What’s the after-tax math for NV electrical sellers?

Nevada has no state personal income tax and no state capital gains tax. On a $5M gain, NV sellers keep $300K-$650K more than coastal sellers (CA, NY, NJ). On a $10M gain, $600K-$1.3M differential. NV residency is well-established and easily defensible for relocating sellers.

What’s the difference between residential, commercial, gaming, data center, and TRIC NV electrical multiples?

Residential: 4-5.5x EBITDA / 3-4.5x SDE. Commercial: 5-6.5x EBITDA. Gaming/hospitality: 5.5-7x EBITDA. Las Vegas data center: 7-9x EBITDA (highest). TRIC industrial: 7-9x EBITDA. Segment positioning is critical.

How long does it take to sell an electrical business in NV?

Sub-$1M EBITDA: 7-10 months. $1M+ EBITDA platform deals: 10-13 months. Data center and TRIC specialty deals can run longer because of customer relationship verification.

What about union dynamics for NV electrical contractors?

NV is right-to-work with limited IBEW union penetration. IBEW Local 357 (Las Vegas) and Local 401 (Reno) are the major locals. Union shops most common on commercial and gaming work in Las Vegas. Open-shop dominates residential and most industrial. Multiemployer pension exposure is smaller than CA/IL/NY.

Should I sell my NV electrical business to a public strategic or a PE rollup?

Public strategics (IES, MYR, EMCOR, Comfort Systems, APi) typically pay 6-9x EBITDA (7-9x for data center / TRIC), mostly cash. PE rollups (Sila West, Bernhard, Wynnchurch) typically pay 5.5-8x EBITDA at platform scale with cash + 15-30% rollover + earnout.

What recurring revenue mix do NV electrical buyers want?

30%+ recurring service revenue is the threshold where multiples step up by 0.5-1.0x EBITDA. NV-specific recurring opportunities: Las Vegas Strip casino service contracts (MGM, Caesars, Wynn, Sands, Boyd, Station), Las Vegas data center service contracts (Switch, Google, Vantage), TRIC industrial service contracts (Tesla, Switch, Google, Apple).

How is CT Acquisitions different from a NV electrical broker?

We’re a buy-side partner, not a sell-side broker. Sell-side brokers represent you and charge 8-12% of the deal plus retainers, run 9-12 month auctions, require 12-month exclusivity. We work directly with 76+ buyers, including 11 with active Nevada electrical mandates: IES Holdings (NYSE: IESC), MYR Group (NASDAQ: MYRG), EMCOR Group (NYSE: EME), Comfort Systems USA (NYSE: FIX), APi Group (NYSE: APG), Sila Services West, Bernhard Capital Partners, Wynnchurch Capital, plus 3 regional Western rollups, who pay us when a deal closes. You pay nothing. No retainer, no exclusivity, no contract until a buyer is at the closing table. We move faster (60-120 days from intro to close) because we already know who the right buyer is.

Sources & References

All claims and figures in this analysis are sourced from the publicly available references below.

1. https://www.nvcontractorsboard.com/
2. https://tax.nv.gov/
3. https://investors.ies-co.com/
4. https://investors.myrgroup.com/
5. https://investors.emcor.net/
6. https://investors.comfortsystemsusa.com/
7. https://www.switch.com/
8. https://www.dol.gov/agencies/whd/government-contracts/construction
9. Nevada State Contractors Board
10. Nevada Census QuickFacts