Carter Brothers Acquires D&N Electric
With the purchase of D&N Electric, Carter Brothers has become one of the largest, privately held, minority-owned security and electrical services firms in the Southeast, according to the company. The firm is now comprised of two divisions — Carter Brothers Security Services and D&N Electric — which will work collaboratively to provide access control, video surveillance, intrusion detection, visitor management systems and electrical services, with an expertise in project management.
Founded in 2000 by NFL Hall of Fame Inductee Cris Carter and his brother John, Carter Brothers sold off its fire and life-safety division to Tyco Integrated Security in 2012. In doing so, the firm wanted to focus on the security side of the business, as well as become a service provider in the construction market.
“I had an interest in growth the Carter Brothers footprint, and an electrical services firm was high on my radar,” Carter Brothers President and CEO John Carter tells SSI.
Carter mentioned his desire to expand his business into the electrical contracting industry with his friend Robert Nix, founder of D&N Electric.
Since 1970, D&N Electric has provided consultation, design, planning, budgeting, estimating, procurement, scheduling, cost control and construction supervision services to public agencies and private companies in the Southeast and the Midwest. After 40 years in the business, Nix had plans of retiring and was seeking to sell his business to the right company.
“D&N is a reputable firm with a 40-year history, which made the acquisition attractive to me,” Carter says. “After meeting, we developed a synergy based on our mutual understanding of the construction services industry. Robert felt confident that D&N Electric would continue to grow and expand as part of the CB family.”
Carter declined to say how much recurring monthly revenue (RMR) or how many accounts the deal brings to the firm, but mentioned that the firm is currently in the process of hiring 150 field technicians nationwide.
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