FOCUS Investment Banking Represents CES Industrial, LLC in its Sale to Chicago Switchboard, Inc.
Washington, DC, (June 12, 2023) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services, announced today that CES Industrial, LLC (“CES”), a leading industrial electrical installation and control panel manufacturing company, has been acquired by Chicago Switchboard, Inc. FOCUS initiated this transaction and advised CES throughout the process.
The purchase will allow both companies to expand the territories in which they can serve customers and significantly increase their product offerings, covering needs from low to high voltage.
For over 20 years, CES has provided equipment installation primarily for process and packaging industries; it also manufactures custom control panels for original equipment manufacturers, integrators and end users. CES owners Steve Wookey and John Silva carefully selected Chicago Switchboard as the buyer and have the utmost confidence that it will carry on the overall culture and values that have been cultivated and maintained over the years.
Founded in 1936, Chicago Switchboard is a leading provider of customized electrical distribution equipment. Its products range from switchboards and switchgears to panel boards and junction boxes, and its products have powered several key locations in the Chicagoland area.
“Taking care of our employees, customers and overall culture was very important to us as we began to explore options for our company’s next phase,” commented Wookey. “From the beginning until the final transaction day, the FOCUS team (Craig Ladkin, Paul Dickson and Kate Elliott) made themselves available to navigate us through the process. Their communication, availability and commitment were excellent as they guided us through to a successful acquisition and we are truly grateful for all their hard work and dedication.”
“We were honored to represent an industry leader like CES during this process and we were pleased to help its management team meet their objectives in this transaction,” added Craig Ladkin, FOCUS Managing Director.
*These testimonials may not be representative of the experience of all clients; testimonials are not a guarantee of future performance or success.
He has advised on and negotiated transactions from the very large; for clients such as the World Bank, IFC, the Treasury Departments of more than a dozen OECD nations, along with their state-owned power and utility companies, down to the very small; angel level investments, small city urban renewal projects and private school campuses.
Mr. Ladkin entered investment banking in the 1980s upon joining Nomura Securities in London to help establish their derivatives and risk management operations. Later he joined AIG Financial Products to build a client base in Scandinavia and northern Europe, managing hundreds of groundbreaking transactions up to $1.5 billion.
Mr. Ladkin has advised and managed transactions for the Treasuries of Sweden, Norway, Finland, France, Belgium, Denmark, Canada, the World Bank, IFC, African Development Bank, EDF, Statoil, Hydro-Quebec, BC Hydro, Ontario Hydro and many multi-national corporations and financial institutions.
Mr. Ladkin holds an MBA in International Finance and Marketing from the London Business School in London, England. He also holds a BSc in Geotechnical and Petroleum Engineering from the University of British Columbia. After graduation, he joined the Exploitation Engineering group of Dome Petroleum, which focused on fast-tracking young engineers into management positions. There he managed a significant section of Alberta shallow gas development, while overseeing a multi-disciplined project team of engineers, geologists, lawyers and economists.
