What is Theco?
Founded in 1984 by Tom Hagan, Theco has evolved into a premier electrical contractor with a deep-rooted presence in New Mexico. The firm distinguishes itself through a specialized focus on public works projects, supported by a workforce of 100 skilled electricians and 25 apprentices. By maintaining a rigorous internal apprenticeship program in partnership with the Northern New Mexico Independent Electrical Contractors Association, Theco ensures that its technical personnel remain at the forefront of industry standards and safety codes.
The company's market position is defined by its operational efficiency, evidenced by its ability to manage projects ranging from $50,000 to $11.7 million. With an average annual revenue of $20 million and a substantial bonding capacity of $15 million per project, Theco is well-positioned to handle complex, high-stakes infrastructure requirements. Its reputation for cost-efficiency and adherence to strict project timelines has made it a preferred partner for general contractors across the region.
How much funding has Theco raised?
Theco has raised a total of $1M across 1 funding round:
Debt
$1M
Debt (2020): $1M with participation from PPP
Key Investors in Theco
PPP
Public-Private Partnership
What's next for Theco?
With this major enterprise-level funding, Theco is poised to further solidify its market share in the public works domain. The strategic allocation of this capital will likely focus on enhancing field supervision capabilities and expanding the firm's inventory of specialized equipment. As the company continues to navigate the complexities of the commercial electrical industry, the focus remains on leveraging its established reputation for quality and reliability to secure larger, more complex contracts.
Looking ahead, the firm's emphasis on workforce development and technical training will be critical in maintaining its competitive edge. By integrating advanced technology and maintaining its strong underwriting and bonding relationships, Theco is well-equipped to sustain its growth trajectory and continue delivering high-value electrical installations across the state of New Mexico.
