Irving-based CEC Facilities Group is being acquired by The Woodlands’ Sterling Infrastructure Inc. in a $505 million deal, the companies announced. CEC is a specialty electrical and mechanical contractor known nationwide for its work in semiconductors, data centers, high-tech manufacturing, and commercial construction.
Sterling, a provider of advanced, large-scale specialty site infrastructure improvement contracting services, said the purchase price consists of $450 million in cash and $55 million in Sterling common stock.
“As we celebrate 16 years since founding CEC, I’m incredibly proud of what our team has built—driven by our values, our people, and a relentless pursuit of excellence,” CEC Founder and Chairman Ray Waddell said in a statement. “From day one, we’ve reinvested in our company and in our people—believing that long-term success comes from building talent, trust, and a culture of performance.”
“This combination with Sterling adds a valuable element to their E-Infrastructure strategy,” Waddell added, “amplifying their momentum with CEC’s deep expertise in semiconductors, data centers, and mission-critical environments. The opportunities ahead are extraordinary, and we’re just getting started.”
Sterling CEO Joe Cutillo said in a statement that “CEC has extremely strong relationships with its customers and a history of excellent growth, execution, and profitability. We believe that the combination of CEC’s leading mission-critical electrical services and Sterling’s best-in-class site civil infrastructure services will allow us to accelerate project timelines and become even more valuable to our customers.”
“We welcome CEC to our team and believe their strong values, commitment to customers, and entrepreneurial spirit align perfectly with Sterling,” Cutillo added.
More on the acquisition
CEC CEO Daniel Williams, who was appointed to head the company last October, will continue to lead CEC’s operations, Sterling said.
Sterling said that CEC has “an earn-out opportunity” contingent upon achieving certain operating income targets through Dec. 31, 2029. CEC will join Sterling’s E-Infrastructure Solutions segment, the company said.
The deal is expected to close in the third quarter of 2025.
Founded in 2009, CEC is a leading, non-union electrical contractor to high-growth, mission-critical markets and delivers comprehensive design, engineering, installation, and maintenance services for complex electrical infrastructure across high growth sectors.
Electrical services accounted for over 80% of CEC’s 2024 revenue, while more than 80% of its revenue and backlog comes from mission-critical end markets including semiconductor (its largest end market), data center, and manufacturing.
CEC has a strong presence in Texas, with services extending into the Rocky Mountain region, Southwest, and Southeast.
Just last Friday, CEC Facilities Group announced a new office opening opening in Phoenix, expanding the company’s Southwest presence.
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R E A D N E X T
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New CEO Daniel Williams succeeds company founder Ray Waddell, who will transition to the role of chairman and maintain an active role as CEC continues expanding across the U.S.
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