Class VI Partners (“Class VI”) is pleased to announce the recapitalization of Electric Equipment & Engineering (“EEE” or the “Company”) by HKW Inc. (“HKW”). The Company’s partnership with HKW will further enable EEE to support its current customer base, grow its current product offering, expand its manufacturing capabilities, and extend its presence into new markets. Class VI served as the exclusive financial advisor to EEE.
“The decision to sell our 103-year-old family business was not one we took lightly. It was important to us to select both a partner and advocate. We selected Class VI and could not have been more satisfied. Their knowledge and commitment were matched by their integrity and professionalism. Class VI exceeded all our expectations; they were truly a pleasure to work with. We would wholeheartedly recommend them,” said Mike Morroni, one of the EEE owners.
Founded in 1922, in Denver, Colorado, EEE is a third-generation family business that designs, engineers, and manufactures both AC and DC electrical power products and solutions. For over a century, EEE has used its engineering knowledge and manufacturing expertise to address the needs of its customers that require products associated with standby/backup power systems, custom switchboard configurations, and specialized industrial control and power system applications.
The Company has a long-standing history of innovation, having been at the forefront of changing technologies, and has been first to market with multiple design solutions. Serving customers across the nation, EEE has developed decades-long relationships with numerous Fortune 500 customers that view its products as staples of its critical power infrastructure.
The story of EEE is a true American success story. The company’s founder, Anthony (Jim) Morroni, was a southern Italian immigrant who arrived in Denver at age 11 and began working in local industries like the railroads and coal mines. Jim opened his first shop on Wazee Street in downtown Denver before establishing a dedicated facility in the 1950s, which still houses the company’s operations today.
Now led by his grandchildren—Craig, Michael, and Tim—EEE continues to build upon his legacy as a family-run organization with a steadfast, people-first approach to both employees and customers. The company also remains deeply committed to its community, giving back through charitable contributions. In 2022, EEE celebrated its 100th anniversary, a remarkable testament to the family’s enduring legacy.
“The Morroni family put a lot of trust in our team at Class VI to honor their grandfather’s legacy and find the right partner for the future. Representing EEE was a privilege, and in HKW, we found a partner that not only will support the company’s next phase of growth but also shares its values and commitment to preserving the family’s legacy. We are deeply thankful to have played a role in this exciting chapter of EEE’s 100+ year history—a testament to the hard work and dedication of the Morroni family and the entire EEE team,” said Zach Solomon, Senior Associate for Class VI.
HKW is an Indianapolis-based private equity firm investing in growth-oriented companies with talented management teams in the US and Canada. HKW targets small to mid-size companies in the manufacturing, distribution, and business service sector with $5–30mm in EBITDA that have demonstrated a sustainable competitive advantage and a clearly defined growth strategy. The firm is built on a 100+ year history with a strong reputation for integrity, and its unique, four-pillar approach provides its executives with access to transactional, operational, and sourcing experts to help drive value over the investment horizon.
The transaction closed on December 2, 2024. Rumler Tarbox Lyden Law Corporation served as legal counsel to EEE, and Taft Stettinius & Hollister LLP served as legal counsel to HKW.
For more information about the transaction, please contact Zach Solomon at (303) 243-5646 or zsolomon@classvipartners.com.
About Class VI Partners
Class VI provides middle-market investment banking services, including mergers and acquisitions advisory, corporate advisory, business valuation, and private capital raising services through its affiliate, Class VI Securities, LLC and Member FINRA. Class VI is also affiliated with and offers wealth management services through Class VI Family Office, LLC, a Registered Investment Advisor with the Securities & Exchange Commission.
Mike Morroni, Co-Owner of EEE, is a client of Class VI Partners and is not being compensated for sharing their opinion and experience with the firm. Any compensation creates a conflict of interest. Comments by Mike Morroni may not be representative of any other person’s experience with the firm and are no guarantee of future performance or success.
Additional Disclosures
Investment advisory services offered through Class VI Partners’ affiliate Class VI Family Office, LLC, a Registered Investment Adviser with the U.S Securities and Exchange Commission. Class VI Partners offers investment banking and private securities transactions through its affiliate, Class VI Securities, LLC. Class VI Securities, LLC is a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA). Class VI Pathfinder, LLC provides general business consulting to privately held businesses. Collectively these entities are referred to herein as “Class VI”.
Testimonials may not be representative of the experience of other customers. Any promotion, either via testimonial or endorsement, is unpaid (in cash or non-cash form) and does not guarantee future performance or success. We believe that all information provided is from credible and reliable sources. This information does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith and any related legal, tax, accounting or other material considerations.