Waukesha-based NEXT Electric sold to IES Holdings

Freeman Staff

July 18, 2017

WAUKESHA - NEXT Electric, LLC has sold 80 percent of its membership interest to IES Holdings, Inc., according to a Monday announcement.

NEXT Electric is a provider of high-quality electrical solutions located at 1121 Marlin Court in Waukesha.

IES operates in the industrial infrastructure market throughout the United States. NEXT’s current management team, led by President Chris Surges, has chosen to reinvest its entire ownership interest and will collectively retain 20 percent, according to the announcement.

“Today marks an exciting new chapter in the story of NEXT Electric,” Surges said in a statement. “With this strategic partnership, we will be able to refocus our efforts on providing expanded services along with additional resources to our dedicated customer base, while retaining the core values of our team members. We believe IES shares these similar values, and look forward to growing NEXT’s vision together.”

NEXT started in 2012 and since then has become a leading electrical contractor in the region, specializing in the design, installation and maintenance of electrical systems for commercial, industrial, health care, water treatment and education end markets, according to the announcement. NEXT will serve as an engine to help grow IES’s Midwest operations.

“The acquisition of NEXT reinforces our strategy to partner with strong management teams in attractive markets,” said Robert Lewey, president at IES, in a statement. “IES’s long-term investment horizon and ownership culture allowed us to create a structure where Chris and his team will retain a meaningful ownership stake in NEXT and its future. We are excited to welcome Chris and NEXT’s over 100 team members to IES and are excited to partner with them to continue to grow NEXT.”

NEXT will operate as a subsidiary in IES’s Commercial & Industrial segment and will continue to operate under the NEXT name.