MSL Electric

BDO Capital Advises MSL Electric Acquisition by GreenArrow, A CAI Capital Portfolio Company

Situation

MSL Electric (MSL or the Company) is a leading electrical contractor serving municipalities and transportation agencies throughout Southern California. Founded in 2002 and headquartered in Anaheim, California, the Company specializes in intelligent transportation systems, street lighting, airfield lighting, and fiber optic networks. Under the continued leadership of Warren and Sally Moore, and through its technical experience, strong safety culture, and long-standing customer relationships, MSL has established a reputation as a trusted partner for complex public infrastructure projects.

MSL, a 100% ESOP-owned company prior to the sale, engaged BDO Capital to advise the Company on a potential M&A process. MSL was looking for a strategic partner to support the next chapter in the Company’s journey and be a steward for the Company’s employees. BDO Capital has significant experience advising ESOPs through the M&A process and was engaged to serve as exclusive financial advisor to MSL in connection with the sale of the Company. 

Solution

BDO Capital conducted a targeted sale process focused on identifying strategic and financial buyers with experience investing in infrastructure construction services businesses. As part of the process, the team highlighted MSL’s differentiated market position, recurring public-sector customer base, experienced workforce, and strong growth profile, generating significant interest from a broad universe of prospective acquirers. BDO Capital helped identify GreenArrow, a portfolio company of CAI Capital Partners, as the right partner for the next chapter of MSL’s journey. 

Outcome

MSL Electric was acquired by GreenArrow, a portfolio company of CAI Capital Partners. The partnership positions MSL to continue expanding its capabilities and geographic reach while maintaining its commitment to customers, employees, and the communities it serves. GreenArrow brings additional strategic resources that will help support future growth while building upon the Company's strong foundation, culture, and reputation within the Southern California electrical infrastructure market. The transaction also represents a positive outcome for the employee-shareholders and positions MSL for continued success.  

GreenArrow is a leading transportation infrastructure services provider backed by CAI Capital Partners, a private equity firm focused on founder-owned businesses in the lower middle market. GreenArrow specializes in the installation and maintenance of transportation electrical infrastructure, including traffic signals, streetlighting, intelligent transportation systems, and utility systems. Operating nationwide, they combine experienced regional leadership and on-the-ground expertise with a central team that provides shared resources, systems, and best practices to support them. For more information, please visit www.greenarrow.com.

MSL Electric logo.

BDO Capital provided outstanding representation to MSL Electric, Inc. throughout the sale of our company. From the beginning, BDO became a trusted partner and advisor, giving us confidence and peace of mind during one of the most important business decisions we have ever made.

M&A transactions can be extremely stressful, and the BDO Capital team’s professionalism, diplomacy, and commitment were evident throughout the entire process. Their tactful handling of sensitive conversations, valuable guidance, advocacy of our interests, and strong relationships with all parties were instrumental in keeping the transaction on track.

Their diligence and attention to detail also helped position MSL Electric to attract highly qualified prospective buyers and ultimately achieve a successful sale. We are incredibly grateful for the professionalism, expertise, and commitment BDO Capital demonstrated from beginning to end. If we were ever in a position to pursue another transaction, we would not hesitate to have BDO Capital represent us again.

Warren & Sally Moore
Founders, MSL Electric, Inc