LCG Holding Announces Acquisition of a Controlling Interest in CEC Energy (AKA Coonrod Electric Company)

HOUSTON , June 21, 2022 /PRNewswire/ -- LCG Holdings, a consortium of financial investors, with proven industry experience, today announced finalizing the acquisition of a controlling interest in CEC Energy. CEC Energy, established as Coonrod Electric Company in 1956, provides EPC services, electrical construction, maintenance, asset integrity management and automation and system controls to industries as diverse as oil and gas, renewables, data and distribution, government and utilities.

Chaden Lassoued, Chairman of LCG Holdings and the newly appointed Chief Executive Officer of CEC Energy, said "We had great discussions with the CEC leadership team for over a year. We love the culture of the company and are excited about the future. CEC's portfolio of services, their commitment to customers and their strong record of providing support to many technically complex projects make them a great partner for LCG."

Danny Cook, former President of CEC, continues to hold equity interest in the company and will serve as the new Chief Commercial Officer of the company. Mr. Cook added, "We are excited about the diversified growth opportunities that CEC will realize with the strategic partnership with the LCG team. This is a great move for the company, the communities we serve, our CEC family of employees and our customers, with whom we have built strong relationships for decades. Each of these stakeholders will continue to receive the same dedicated support we have provided on all our projects both now and in the future. We are grateful to Tony Coonrod for the unique legacy he has left with CEC and wish him all the best in his retirement."  

CEC Energy, founded in Sinton, Texas has offices in Corpus Christi, Houston, West Texas and New Mexico. They have completed projects across the Southwest, Colorado, Pennsylvania and Mexico.

CEC Energy provides energy and commodity sector customers with a comprehensive service platform by Empowering People to Power Communities. Through engaging and building relationships with our customers, CEC Energy provides innovative, sustainable solutions to electrify, automate, and safeguard the energy needs of today and tomorrow. Their service portfolio ranges from EPC services to construction and maintenance to asset integrity management and automation and systems controls.

SOURCE CEC Energy