Keystone Business Advisors Announces the Acquisition of Oilfield Electric Company by Onni-Rye Holdings
Keystone Business Advisors is pleased to announce the successful acquisition of Oilfield Electric Company by Onni-Rye Holdings, a multi-billion-dollar, family-owned real estate development and operating platform with more than 50 years of experience across North America. In addition to its real estate portfolio, Onni-Rye owns and operates a diverse group of construction and building services companies, including forming, steel stud, drywall, electrical, security, and other construction-related businesses.
Founded in 1940, Oilfield Electric Company has built a long-standing reputation as a premier provider of industrial and commercial electrical services in Ventura and Santa Barbara Counties. Originally focused on oilfield operations, the company successfully expanded its capabilities to serve a broad range of end markets, including healthcare, water treatment, agriculture, commercial and industrial facilities, education, government, and biopharmaceutical clients.
The transaction attracted significant interest from strategic acquirers seeking to add a well-established, heritage electrical contractor to their portfolios. Keystone’s structured go-to-market process generated multiple competitive offers, allowing the seller to select a partner aligned with both the long-term vision for the business and the future of its workforce.
Alan Fletcher, owner of Oilfield Electric, will remain involved in a consulting capacity to support a smooth transition. Concurrently, a seasoned executive within the Onni-Rye organization has been appointed President and will lead the company under new ownership.
The successful closing required navigating several transaction complexities, including union considerations, which were addressed collaboratively by all parties to ensure a successful outcome.
Keystone Business Advisors served as the exclusive sell-side advisor to Oilfield Electric Company.
