Bolgard Joins Charge and a Changing Contractor Space

For those who know Spencer Bolgard, who most recently was President & CEO of MaxLite and previously was notably known for his tenure at AD and Cooper Industries, he was recently named the CEO of Charge Enterprises.

Charge Enterprises is an interesting company given its diversity and it is further interesting to see someone going from a manufacturer to diverse contractor.

According to the press release:

Bolgard Joins Charge

“Charge Enterprises, a leading electrical, broadband, and electric vehicle (EV) charging infrastructure company, is pleased to announce the appointment of Spencer Bolgard as Chief Executive Officer (CEO).

Bolgard brings a wealth of experience in the electrical, automation, electronics, energy efficiency, and EV charging sectors with 40 years of experience and a track record of delivering strategic execution and revenue generation across the electrical, automation, electronics, and energy savings sectors. He joins Charge Enterprises from MaxLite, a leader in energy-efficient lighting, lighting controls, and EV charging solutions, where he served as President and CEO for the past six years. Prior to MaxLite, Bolgard held senior leadership roles at Phoenix Contact, Cooper Industries, Generation Brands – Lighting, Affiliated Distributors, Motorola, Leviton, and General Electric. He was additionally an Armored Cavalry Officer in the US Army.

Charge Enterprises is dedicated to driving the transition to a cleaner, more sustainable future by developing essential infrastructure for widespread electrification. With expertise in electrical and wireless infrastructure, as well as the design and construction of EV charging, solar, storage, and lighting solutions, Charge empowers a diverse range of clients. These include auto OEMs and dealer networks, hospitality groups, U.S. military and government installations, municipalities, REITs, and retail and Charge enables them to enhance energy efficiency and seamlessly transition away from fossil fuels.

Charge portfolio companies have successfully completed $1.3B in projects across 46 states providing turnkey infrastructure solutions. The company is advancing the integration of Greenspeed Energy Solutions, BW Electrical Services (BW), and Advanced Network Services (ANS) while unlocking new commercial opportunities.

• Greenspeed is expanding into adjacent verticals, leveraging its product portfolio to establish recurring revenue streams beyond systems integration and construction. By bundling EV, solar, and lighting solutions Greenspeed is creating a comprehensive, one-stop platform for sustainable infrastructure. This strategy aligns with regulatory mandates, corporate ESG goals, and incentives for clean energy adoption, enabling customers to modernize aging infrastructure while achieving operational cost savings.
• BW is extending its union footprint into high-growth markets Columbus, OH, and Albany, NY, where significant infrastructure investments are underway. The surge in data centers, commercial real estate, healthcare, and public infrastructure projects is driving demand for skilled union electrical contractors. BW’s union status positions it favorably for large-scale electrical infrastructure deployments that require highly trained labor. Its proven model and track record in large development with access to skilled labor pools provides a scalable growth platform.
• ANS is sharpening its focus on in-building wireless (DAS) deployments, which generate recurring post-construction revenue. Regulatory requirements, the increasing dependence on mobile devices, and the technical limitations of 5G coverage are fueling demand for DAS solutions. Municipalities must comply with first responder legislation, while commercial real estate owners are investing in enhanced indoor coverage to ensure seamless connectivity in buildings. These dynamics, and ANS’ unique ability to solve those problems, positions it for strong future growth.

The collective reach and capability of Charge’s portfolio companies combined with Mr. Bolgard’s proven leadership has the company well positioned for the future.  With a proven track record of driving innovation, growth, operational excellence, and high-performance team development, Bolgard is well-positioned to build upon the success and leading market positioning of Charge Enterprises, as it enters its next chapter of expansion. His deep expertise in energy solutions and commercial strategy will be instrumental in advancing Charge’s mission to build and scale the infrastructure essential for the electrified future.

“We are thrilled to welcome Spencer as CEO of Charge Enterprises,” said Vincent DeVito, Managing Director–Asset Management for Arena and its affiliated special servicer, Quaestor Advisors, LLC. “Spencer’s leadership, industry expertise, and strategic vision align perfectly with our long-term goals. His experience in scaling businesses and executing growth strategies will accelerate our impact in EV infrastructure and power solutions.”

Take Aways

• Aside from management experience, Spencer brings electrical and lighting knowledge to the business. Greenspeed is an ESCO, a market Spencer is familiar with. BW is a union electrical contractor. ANS appears to have a different model.
• There have been a number of large contractor acquisitions in the past six months with Cupertino acquired by Quanta, New York-based E-J Group acquired State Electric, which was headquartered in Bedford, MA.
• Norlee Group acquired AEC Electrical Contractors, headquartered in Jacksonville, FL.
• Horowitz acquired Minneapolis’ Preferred Electric.
• MKD Electric, based in Elgin, IL, acquired Georgia-based Brittain Electric

And there have been more contractor acquisitions. I’ve also heard from acquirers and PE firms about interest, and activity, in acquiring smaller electrical, plumbing, and HVAC contractors.

It appears that there is consolidation in the upper-end (size-wise) of contractors pursuing larger projects (datacenters, commercial, industrial, energy / utility) in complementary marketplaces and, most likely, seeking sources of labor.

On the smaller-end, the PE firms see companies without succession plans but have good reputations, can have processes improved and are durable regardless of economic conditions due to service / maintenance revenue streams.

Both of these scenarios have implications, and opportunities, for manufacturers, reps, and distributors.

Perhaps Spencer so the trends and can help Charge capitalize upon them.

Congratulations and good luck to Spencer.