GreenArrow, part of a Canadian private equity company, announced Sept. 15 it acquired James D. Hinson Electrical Contracting Co. in Jacksonville.
Hinson, at 11609 Columbia Park Drive W. south of The Avenues mall, offers construction and maintenance of traffic signals, streetlights, intelligent transportation systems and airport lighting.
James and Shirley Hinson founded the Hinson company in 1986. Dan Hinson and Jamey McCoy acquired the business in 2010 from their parents, according to a news release.
“Joining GreenArrow was an easy decision because their values and goals align closely with ours,” Hinson President Dan Hinson said in the release. “We are confident that our employees, customers, and partners will thrive through this new partnership.”
Vancouver, British Columbia-based CAI Capital Partners announced in March it created GreenArrow.
East Chicago-based GreenArrow specializes in maintaining and installing transportation electrical infrastructure, including traffic signals, streetlights, intelligent transportation systems and utility systems.
“Hinson brings a rich history of excellence and a deep commitment to quality that aligns perfectly with our mission at GreenArrow,” said Lloyd Kuehn, CEO of GreenArrow, in the release.
“This acquisition not only expands our geographic reach but also enhances our collective expertise, allowing us to deliver even more comprehensive and efficient solutions to our clients nationwide.”
Terms of the deal were not disclosed.
GreenArrow said it now has 650 employees across companies Midwestern Electric, Kuharchik Construction, Bear Electrical Solutions and Hinson.
CAI Capital Partners says it has invested $1.6 billion in private equity over three decades.