Mosaic Capital Partners Announces Investment in Ickler Electric ESOP

May 28, 2025

Mosaic Capital Partners LLC (“Mosaic”) announced today an investment in the newly formed IE Group Holdings, Inc. (“Ickler Electric”, or the “Company”) ESOP. The transaction marks a significant milestone for Ickler Electric, which was founded in 1985 and has been owned by Randy Minnier since 2015. Under Randy’s leadership, Ickler has grown into a leading commercial electrical contractor in Southern California, with specific expertise in developing power systems for the mission-critical life sciences industry among others.

“We are thrilled to partner with Randy and bring an ownership opportunity to Ickler’s nearly 350 employees”, remarked Brett Findlay, a Principal with Mosaic who helped lead the transaction. “Ickler has been delivering outstanding electrical solutions and service for years thanks to the dedication of its labor force and leadership group”, he continued. “Transitioning to an ESOP is an exciting next step for an already great Company.”

Randy will continue to lead Ickler Electric as its President and CEO. “As we approach our 40th anniversary, I am very excited to begin this new journey as an employee-owned company”, he stated. “I believe we have tremendous opportunity in front of us and am excited to have our employees share in that success.”

Over the last 10 years, Randy has brought additional capabilities to Ickler, including extensive pre-fabrication solutions, a BIM modeling department, and a dedicated service team all coupled with industry best lead times. Ickler emphasizes a “Zero Unplanned Facility Interruptions (ZUFI)” procedure, which leverages specialty training in biotech protocols and critical power systems to ensure system performance in mission-critical industries like life sciences and other commercial laboratories.

The ESOP provides a substantial retirement benefit to all eligible, full-time employees. Research shows that companies with an ESOP tend to be environmentally conscious, experience less voluntary turnover, and perform better in times of economic downturn.

Financial partners in the transaction included UMB Bank and Lafayette Square. Capstone Partners served as the Company’s financial advisor during the transaction.

About Ickler Electric

IE Group Holdings, Inc. (“Ickler”) is San Diego’s premier commercial electrical contractor serving clients in mission-critical industries for nearly 40 years. Ickler is headquartered in Poway, CA. For more information, visit www.icklerelectric.com.

About Mosaic Capital Partners, LLC

Mosaic Capital Partners LLC (“Mosaic”) is a private equity firm focused on investing in lower middle market companies ($5-$20 million EBITDA) through employee ownership transactions. Based in Charlotte, NC, Mosaic combines a number of compelling attributes of private equity and employee ownership in its unique investment approach.

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Contact

Brett Findlay
Mosaic Capital Partners
101 S. Tryon Street, Suite 2555
Charlotte, NC 28280
Email: bfindlay@mosaic-cp.com
www.mosaic-cp.com