What is Precision Electric?
Precision Electric Company, headquartered in San Diego, is a seasoned electrical contractor with over two decades of experience catering to the commercial and industrial sectors. The firm specializes in delivering comprehensive, turn-key electrical solutions, encompassing design, installation, and final acceptance for a wide array of projects. These include public schools, military facilities, retail centers, multi-story buildings, medical facilities, and manufacturing plants. Precision Electric boasts an in-house engineering department adept at electrical design services compliant with Title 24 standards, ensuring code adherence and optimal system performance through detailed load calculations and distribution planning. The company's robust operational structure features a Director of Operations, multiple Project Managers, Estimators, Field Superintendents, Service Department Managers, and dedicated personnel for purchasing and material logistics. With a substantial team of over 100 field employees, Precision Electric is equipped to tailor crews to specific project needs and timelines. A key differentiator is its prefabrication division, which enhances efficiency by assembling electrical modules off-site, thereby reducing on-site assembly time and accelerating project schedules. Expedited jobsite material delivery, managed by a dedicated logistics team, further supports project success and adherence to accelerated timelines.
How much funding has Precision Electric raised?
Precision Electric has raised a total of $1M across 1 funding round:
Debt
$1M
Debt (2020): $1M with participation from PPP
What's next for Precision Electric?
The recent major strategic investment in Precision Electric signals a pivotal moment for the company, likely enabling further expansion of its operational capabilities and market reach. This capital infusion is expected to bolster its capacity to undertake larger and more complex commercial and industrial electrical projects. The company's established infrastructure, including its in-house engineering and prefabrication divisions, positions it for significant growth. Future strategic initiatives may involve enhancing its technological adoption for design and installation processes, expanding its service offerings, or increasing its geographic footprint within the commercial and industrial contracting space. The sustained enterprise-level funding indicates confidence in Precision Electric's business model and its potential for continued development and market leadership.
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