Loenbro, a construction and maintenance contractor backed by Kohlberg & Company, has acquired Prism Electric, a Texas-based electrical contractor with about 2,500 employees.
Prism is the biggest acquisition in Loenbro’s history. It comes nine months after Kohlberg agreed to acquire a majority stake in Loenbro from Braemont Capital, which retained a minority interest alongside Kohlberg.
Prism designs, installs and maintains electrical systems for hospitals, data centers, airports, schools, factories, hotels, arenas and office buildings. Its construction work runs from preconstruction planning and 3-D virtual design to prefabrication, in which electrical components are assembled in a shop before being installed on site. The company also offers 24-hour emergency service, maintenance, medium-voltage work and low-voltage technology systems, including cabling that carries data, security and communications signals through a building.
Prism’s projects include the Moody Center arena in Austin, Dallas Fort Worth International Airport, Dell Children’s Medical Center North in Austin and the WinStar casino resort in Oklahoma. Prism operates from six offices in Dallas, Fort Worth, Houston, Austin, Oklahoma City and Tulsa.
Blake Combs founded Prism in 1994 after starting his career as an electrical apprentice. Early growth came from a national contract to install energy-efficient lighting in JCPenney stores. Prism, led by Mr. Combs as president, is headquartered near Dallas in Garland, Texas.
“I’ve been planning for Prism’s future for a long time, and my biggest priority has always been creating opportunities for our people,” said Mr. Combs. “As we got to know the Loenbro team, it became clear that our values, culture, and vision for the future were closely aligned. This isn’t a change in direction for Prism. It’s the next step in our growth, and I’m excited about what we’ll accomplish together for our employees, customers, and communities.”
Loenbro provides electrical, mechanical and structural services, as well as fabrication, inspection, and underground installation and maintenance. Its customers span 15 industries, including data centers, advanced manufacturing, aviation, chemicals, healthcare, mining, oil and gas, pharmaceuticals, power generation, renewable energy, semiconductors and water. 
Paul Leach and Jon Leach founded Loenbro in 2000 as a two-person contractor serving a refinery near Great Falls, Montana. Today, the company is led by CEO Daniel Cowan and is headquartered near Denver in Westminster, Colorado. The buy of Prism extends Loenbro’s geographic reach across Texas, Oklahoma and the broader Southern US.
“The acquisition of Prism Electric represents a transformational milestone for Loenbro and a significant step forward in our long-term growth strategy,” said Mr. Cowan. “Prism has built an exceptional reputation for delivering high-quality electrical services, developing strong customer partnerships, and fostering a values-driven culture that aligns closely with our own. We are excited to welcome Prism’s talented team to the Loenbro family and look forward to leveraging our complementary capabilities, expanded customer base, and broader geographic reach to create enhanced opportunities for employees, customers, and communities across the country.”
Tailwind Capital acquired Loenbro in 2018. During its ownership, Loenbro acquired Switch Electric, a Phoenix-based electrical contractor for data centers (2021). Braemont bought the company from Tailwind in February 2024.
Under Braemont, Loenbro acquired Revolution Industrial, an Arizona-based industrial services contractor (2025); Stewart Electric, a Nevada-based data center electrical contractor (2025); and Weifield Group, a Centennial, Colorado-based electrical contractor with operations in the Mountain West, Texas and Tennessee (2025).
In December 2025, Kohlberg agreed to acquire a majority stake in Loenbro, with Braemont and management retaining significant equity. In March, the company folded Switch, Revolution, Stewart and Weifield into a single Loenbro brand.
The US electrical contracting market reached about $312 billion in 2025 and is expected to grow to $360 billion by 2031, according to Cascade Partners. IBISWorld puts revenue for US electricians at about $347.5 billion in 2026, after growth averaging 4.8% a year over the past five years. Data centers are the sharpest source of new demand. US data center construction spending reached an annualized $50.7 billion in April 2026, up about 27% from a year earlier and ahead of general office construction for the first time, according to US Census Bureau figures. McKinsey estimates that data centers worldwide will require $6.7 trillion of capital spending by 2030, with about $1.3 trillion of the AI-related portion going to power, cooling and electrical infrastructure.
Recent private equity activity in electrical services includes Kohlberg’s acquisition of a majority stake in RESA Power, a Texas-based electrical testing and transformer services company, from Investcorp in April 2025; Blackstone’s agreement in August 2025 to acquire Shermco, a Texas-based electrical testing and maintenance company, from Gryphon Investors for about $1.6 billion; and Platform Ventures‘ acquisition of Staco Electric Construction, a Missouri-based electrical contractor from its owner in September 2025.
Kohlberg invests in companies with enterprise values of $500 million to $5 billion and EBITDA of $50 million to $250 million. Sectors of interest include healthcare, infrastructure, industrial, professional services and financial services. Kohlberg is currently investing from its tenth fund, which closed in September 2024 with $4.3 billion of capital plus about $1.0 billion for co-investment vehicles, up from $3.4 billion for its ninth fund.
The firm was founded in 1987 by Jerome Kohlberg Jr. and his son James Kohlberg, and is headquartered in Mount Kisco, New York. Kohlberg’s investment in Loenbro is led by Senior Partner Benjamin Mao and Partner Ben Yu.
Braemont makes control or minority equity investments of $25 million to $200 million in North America-based companies in the insurance and financial services, commercial and infrastructure services, and tech-enabled business services sectors. The firm closed its first fund in April 2023 with $525 million of capital. Braemont was founded in 2021 by Managing Partner Robert Covington and is headquartered in Dallas, with offices in Charlotte and New York.
Evercore was the financial advisor to Loenbro, and Alvarez & Marsal provided due diligence support. Glaucon Partners was the financial advisor to Prism.
