Most Buyers Are Not Built for the Long Term
The essential industrial services acquisition market is crowded with private equity firms, search funds, and strategic buyers. Most are building portfolios designed to be sold in three to five years. That means your company, your team, and your customers become part of someone else's exit strategy.
What Most Buyers Do
What Eterna Does Differently
Deep Expertise in Essential Industrial Services
We acquire companies that have built real expertise in one or more of these six categories. If your work keeps critical systems safe, reliable, and compliant, we want to talk.
Electrical Services
Companies that test, maintain, engineer, automate, and repair electrical power systems. This includes acceptance and preventive maintenance testing of transformers, switchgear, breakers and relays, power system engineering and coordination studies, substation automation and SCADA, arc flash and NFPA 70E compliance, critical power systems, and motor and apparatus repair. Clients typically include utilities, industrial plants, data centers, hospitals, and commercial facilities. Work is recurring, specification-driven, and performed by certified technicians.
Aviation Services
Companies that maintain, repair, and overhaul aircraft and their components. This includes line and base maintenance, component and accessory shops, avionics and instrument repair, landing gear and wheel and brake overhaul, and engine and airframe support. Clients include regional and cargo carriers, corporate flight departments, and operators. Work is governed by FAA Part 145 repair station certification and airworthiness requirements that cannot be deferred.
Industrial Testing, Inspection and Certification
Companies that independently verify that assets and facilities meet code and regulatory requirements. This includes nondestructive testing and in-service inspection of pressure equipment, piping and tanks, crane and lifting equipment inspection, elevator inspection, calibration and metrology, cleanroom and controlled environment certification, and cathodic protection and corrosion control surveys. Clients include refineries, chemical and manufacturing plants, utilities, pipeline and terminal operators, life sciences facilities, and commercial property owners. Demand is set by inspection intervals written into code, not by budget cycles.
Mechanical and Rotating Equipment Services
Companies that maintain, repair, and extend the life of the mechanical equipment that runs industrial facilities. This includes rotating equipment and turbine overhaul, precision laser alignment and field balancing, vibration analysis and condition monitoring, boiler, pressure vessel and relief valve repair under National Board certification, steam and compressed air system programs, and bolted joint integrity. Clients include power generation, refining, chemical, food and beverage, and heavy manufacturing. Work follows maintenance and turnaround cycles that repeat for the life of the asset.
Fire and Life Safety Systems
Companies that inspect, test, and maintain the systems that protect people and buildings. This includes sprinkler and alarm inspection, testing and maintenance under NFPA 25 and 72, clean agent and special hazard suppression, fire pump testing, fire and smoke damper inspection, medical gas system verification, and emergency communication systems. Clients include hospitals, data centers, universities, industrial facilities, and commercial real estate. Testing intervals are mandated by code and enforced by local authorities.
Water and Environmental Compliance
Companies that keep water systems safe and facilities inside their permits. This includes backflow prevention and cross-connection testing, potable water storage tank inspection and cleaning, hydrant and valve programs, industrial water treatment and Legionella compliance, continuous emissions monitoring and stack testing, and underground storage tank compliance testing. Clients include municipalities and water utilities, hospitals, industrial plants, power generators, and fuel retail and terminal operators. Demand is driven by federal and state mandates with fixed testing cycles.
What We Look For in a Partner Company
We are selective about the companies we acquire because we intend to own them forever. Every acquisition needs to be a business we are confident will thrive for decades. Here is what we look for:
Revenue
$1.5M to $20M in annual revenue.
Margins
EBITDA margins consistently above 15%.
Revenue Quality
Recurring revenue from long-term contracts and repeat customer relationships.
Customer Concentration
No single customer accounts for more than 50% of revenue.
Growth
Strong growth trajectory in a growing end market.
Geography
Based in the United States or Canada.
Don't worry if your business does not check every box. These are guidelines, not hard rules. If you run a strong essential industrial services company and the fit feels right, we want to hear from you.
What to Expect When You Work With Us
We know that selling your business is a major decision. We have designed our process to be clear, respectful, and efficient. Here is what working with Eterna looks like from start to finish.
Initial Conversation
A private call to learn about your business, your goals, and what matters most to you. Nothing you tell us goes beyond our team unless you say so. If there is mutual interest, we will sign a non-disclosure agreement and share a short information request so we can begin evaluating a potential partnership. You will always know what comes next.
Mutual Evaluation
If we both want to move forward, we go deeper. We review your financials, learn about your operations, and understand your team and customer relationships. We will also share more about Eterna so you can evaluate us. We aim to reach an initial indication of value within two to three weeks.
Letter of Intent
If the fit is strong and the numbers work, we present a Letter of Intent with clear terms and a fair valuation. No hidden conditions or last-minute surprises. We explain every element of the offer and give you time to review it with your advisors.
Due Diligence and Closing
Once the LOI is signed, we complete our confirmatory diligence and work toward closing. We keep this process as efficient as possible and communicate with you every step of the way. Our goal is to close within 60 to 90 days of signed LOI.
Partnership Begins
After closing, the real work begins. Your company joins Eterna with its brand, team, and operations intact. You gain access to resources, peer networks, and growth capital. We check in regularly but we do not micromanage. Your business is your business. We are here to support you.
After 35 years of building and running an electrical services company, I know what matters to the people in this business. Eterna gets it. They understand the work, they respect the people who do it, and they are committed to being a permanent home for great companies.
Fred Sargent, Operating Partner — Former CEO, Sargent Electric Company, Pittsburgh, PA. Now President, Great Service Forums™
I have spent my career in electrical services — from the field to the boardroom. I have seen what happens when companies get acquired by firms that do not understand this industry. Eterna is different. They are building something for the long term, and they are doing it with the kind of respect for operators and customers that this business demands.
Greg Vaughn, Operating Partner — Former SVP of Strategic Sales, Voltyx. Former VP of Business Development, North American Substation Services (NASS).