Ascension Advisory served as exclusive M&A advisor to the Maryland electrical contractor.
NEW YORK CITY, NY / ACCESS Newswire / October 29, 2026 / Ascension Advisory is pleased to announce that it served as exclusive sell-side M&A advisor to Direct Electric Services ("DES") and its shareholders in the company's sale to CET Energy Solutions, an integrated electrical and energy services platform backed by Broad Sky Partners. Terms of the transaction were not disclosed.
Founded in 2003 and based in Mount Airy, Maryland, DES is a full-service electrical contractor licensed in Maryland, Virginia, Delaware and Washington, D.C. The company specializes in commercial interiors, institutional projects and service contracts, and has built long-standing relationships with the region's leading general contractors over more than two decades. DES will retain its name and continue to operate as a CET Energy Solutions company.
The transaction reflects Ascension Advisory's focus on advising founder- and family-owned businesses in the industrial and business services sectors as they navigate sale processes with strategic acquirers, private equity platforms and their portfolio companies.
Ascension operates two complementary advisory practices under one roof: M&A advisory, focused on the sale of operating companies, and sale leaseback advisory, focused on monetizing the real estate that companies own and occupy. Many founder- and family-owned businesses hold meaningful value in both, and Ascension is uniquely structured to advise on the enterprise and the real estate together, whether through a combined process, a sale leaseback that precedes an M&A transaction, or a standalone engagement on either side.
"Underpinning both practices are Ascension's relationships across the private equity universe. We work with sponsors and their portfolio companies as buyers in our M&A processes and as sellers and tenants in our sale leaseback processes, giving us a view of how institutional capital underwrites both operating businesses and the real estate beneath them. This connectivity on both sides of the middle market allows us to position our clients strategically to the right buyers, anticipate how a transaction will be structured and financed, and help owners capture value that a single-practice advisor may overlook," said Chelsea Mandel, Managing Director of Ascension Advisory.
"DES has built an exceptional reputation over more than two decades, founded on the quality of its people and the trust of the region's leading general contractors. Our goal from the outset was to find a partner that would preserve that legacy. CET Energy Solutions and Broad Sky Partners are exactly that partner, and we are proud to have helped the DES team reach this milestone," said Mathew Wainwright of Ascension Advisory, who led the DES transaction.
"DES has earned its reputation the right way, through great people and deep customer relationships, and we're committed to building on that legacy. We're excited to welcome the DES team to CET Energy Solutions," said John J. Duquette, CEO of CET Energy Solutions. "We thank Ascension Advisory for helping bring our two organizations together."
Read CET Energy Solutions' full announcement here.
About Ascension Advisory
Ascension Advisory is a global advisory firm specializing in real estate sale leasebacks and M&A transactions for financial sponsors, private equity firms, and business owners. With a team that brings expertise from backgrounds in private equity, investment banking, management consulting, and real estate investing, Ascension delivers expert execution and thoughtful solutions across both real estate and corporate M&A transactions. Whether navigating a business sale, a strategic acquisition, or unlocking capital through a sale leaseback, Ascension helps clients maximize value and drive long-term growth for their business.
SOURCE: Ascension Advisory
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SOURCE: Ascension Advisory
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/ascension-advisory-advises-direct-electric-services-on-its-sale-1243621
