Case Study: Evolution Strategy Partners Acquires Amped Electric

“Amped’s founder [Michael Jannace] chose Evolution out of multiple potential partners due to its track record and success in helping businesses of similar size and scale to grow into larger enterprises with strategic and financial support.” 

Stenning Schueppert, Managing Partner, Evolution Strategy Partners

Axial Members

Member Type	Independent Sponsor	M&A Advisory Firm
Axial Member Since	2021	2021
Headquarters	Austin, TX	West Columbia, SC
Axial Closed Deals	1	3
Axial Profile	View Profile	View Profile

Acquired Business

Location: Charleston, S.C.

Description: Founded in 2018, Amped Electric specializes in providing electrical services for both residential and commercial clients in the Greater Charleston and Myrtle Beach, South Carolina areas. From simple repairs to complex installations, Amped is committed to ensuring safety, efficiency and outstanding satisfaction with every assignment. 

Reason for exit: Amped’s founder was seeking a like-minded capital partner to recapitalize the business to cash out a partner and help take the business from an entrepreneurial operation to a scaled, professionalized business via organic and inorganic growth.

Website  |  LinkedIn

Evolution Strategy is a 10-person Independent Sponsor based in Austin, TX. Team members joined Axial in October 2021 to help grow the firm’s portfolio, which today supports five platform investments and four co-investments.

In Q3 of 2023, Amped Electric — an electrical contracting business that provides residential and commercial services in The Carolinas and Georgia — went to market with Purpose Equity’s representation to help find the right buyer. 

Given Evolution’s goal to advance best-in-class infrastructure business solutions, they were excited to pursue the Amped transaction in Q3 of last year, ultimately resulting in the closure of their fourth platform investment in March.

Having worked closely with Michael Jannace, CEO of Amped Electric, the deal journey was incredibly smooth. The company and its vision aligned with what Evolution looks for in an acquisition, and Jannace involved his team in the process at every turn to align with his inclusive working environment.

The two firms had never met before the initial interaction on the Axial platform, and they closed their transaction less than 40 days after entering into an LOI.

Deal Data