Sell Your Electrical Business in Nebraska, 76+ Active PE Buyers, $0 Seller Fees

Selling an electrical contracting business in Nebraska in 2026 is a quietly strong M&A market that most sellers underestimate. Nebraska electrical contractor sales sit at the intersection of a maturing Sarpy County data center corridor (Google Papillion, Meta Sarpy, plus additional Google sites in Omaha and Lincoln), strong agricultural and grain-processing industrial demand, a simple Nebraska State Electrical Division (NSED) licensing regime, contractor-license reciprocity with Iowa, Minnesota, South Dakota, and Texas, and a state income tax rate phasing to a flat 3.99% by 2027 under LB 754. Nebraska is also unique as the only U.S. state served entirely by consumer-owned electric utilities (Nebraska Public Power District, Omaha Public Power District, Lincoln Electric System), a structural feature that shapes commercial and industrial demand in ways out-of-state buyers consistently misunderstand.

This guide is for Nebraska electrical contractor owners running between $1M and $40M of revenue, with normalized earnings between $200K SDE and $6M EBITDA. We’ll cover NSED licensing under Nebraska Revised Statutes Chapter 81 Article 21 (the State Electrical Act), the Master / Journeyman / Contractor categories administered through electrical.nebraska.gov, reciprocity with Iowa / Minnesota / South Dakota / Texas, the Sarpy County hyperscale data center buildout, agricultural and grain-processing premium niches, IBEW Local 22 (Omaha) and Local 265 (Lincoln) NEBF multiemployer pension exposure, and the after-tax math when Nebraska’s top rate falls from 5.84% to 3.99% over 2024-2027.

The framework draws on direct work with 76+ active U.S. lower middle market buyers, including PE-backed Midwest consolidators and public strategic acquirers already operating in Nebraska. We’re a buy-side partner. The buyers pay us when a deal closes, not you. Of our 76+ buyers, 11 actively bid on Nebraska electrical in 2024-2026: IES Holdings (NYSE: IESC, already in Nebraska through IES Electrical Nebraska and the Shanahan Mechanical and Electrical Lincoln acquisition), MYR Group (NYSE: MYRG, substantial Midwest T&D), EMCOR Group (NYSE: EME), Comfort Systems USA (NYSE: FIX), APi Group (NYSE: APG), Bernhard Capital, Wynnchurch Capital, Incline Equity Partners, plus 3 regional Midwest electrical rollups. The active buyer pool is highly motivated and pays platform-quality multiples for proven operators with data center, industrial, or agricultural-processing exposure. Use our free valuation calculator below for a 90-second estimate, or read on for the full state-specific framework.

One realistic note before you start. Nebraska is a well-behaved electrical M&A market, not the regulatory minefield California or New York can be, but timing matters more here than in most states. A seller closing in calendar 2027 (post-3.99% flat rate) keeps roughly 1.85 percentage points more on the gain than a seller who closed in 2024. On a $5M sale, that is roughly $90K-$100K of after-tax proceeds preserved before any other planning. Combined with the Sarpy County data center demand surge still building, the ‘wait and properly prepare’ case is unusually strong for Nebraska electrical sellers right now.

“Nebraska electrical sellers who hear ‘Lester Electrical and private equity and Nebraska’ and assume the only path is an ESOP are missing the real story. Lester Electrical is a 60-year ESOP battery-charger manufacturer in Lincoln, not the model. The model in 2026 is the active acquirer pool drawn into Nebraska by Sarpy County data centers, agricultural processing electrical work, and a state income tax flattening to 3.99% by 2027. We’re a buy-side partner working with 76+ active buyers, including 11 with current Nebraska electrical mandates, the buyers pay us, not you, no contract required.”

Key Takeaways

• 11 of our 76+ buyers actively bid on Nebraska electrical in 2024-2026, including IES Holdings (NYSE: IESC, already in Nebraska), MYR Group (NYSE: MYRG), EMCOR (NYSE: EME), Comfort Systems USA (NYSE: FIX), APi Group, Bernhard Capital, Wynnchurch, Incline Equity, plus 3 regional Midwest rollups.
• NSED licensing under Nebraska Revised Statutes Chapter 81 covers Electrical Contractor, Class A and Class B Master, and Journeyman categories. Electrical Contractor reciprocity with Iowa, Minnesota, South Dakota, and Texas, one of the most acquisition-friendly regimes in the country.
• Nebraska top rate phases from 5.84% (2024) to 5.20% (2025) to 4.55% (2026) to a flat 3.99% (2027) under LB 754. Capital gains taxed as ordinary income. On a $5M gain, a 2027 close keeps roughly $90K-$100K more after Nebraska tax than a 2024 close.
• Nebraska multiples by segment: residential 2.5-3.75x SDE; commercial 5-6.5x EBITDA; industrial / agricultural processing 5.5-7.5x EBITDA; data center / hyperscale 6-8.5x EBITDA. Sarpy County data center exposure is the highest-leverage segment positioning available in 2026.
• Sarpy County buildouts (Google Papillion, Meta 3.6M sqft Sarpy, Google Omaha, Google Lincoln $600M) plus the Highway 50 corridor have created sustained commercial-industrial electrical demand. Miller Electric (Omaha) is the named Meta wiring partner.
• IBEW Local 22 (Omaha, founded 1892) and Local 265 (Lincoln + Grand Island) shops face NEBF multiemployer withdrawal liability under ERISA Section 4203. The Section 4204 sale-of-assets exception requires structuring 12+ months pre-sale.

Why Nebraska electrical contractor M&A is an underrated 2026 sale market

Nebraska electrical contractor M&A combines simple licensing, reciprocity with adjacent states, real specialty demand, and a state tax rate that is meaningfully improving year over year. Most Midwest electrical sellers think of Nebraska as a quiet market because it lacks the volume of Texas, Florida, or Illinois. The right frame: Nebraska has 11 of our 76+ buyers actively quoting deals, simpler licensing than California / New York / Florida, contractor-license reciprocity with Iowa / Minnesota / South Dakota / Texas, the only state served entirely by consumer-owned electric utilities (NPPD, OPPD, LES), and an income tax phase-down from 5.84% to 3.99% flat by 2027. Together these make Nebraska one of the most acquisition-friendly electrical markets in the Midwest right now.

The structural demand drivers are real and accelerating. Sarpy County is one of the fastest-growing data center markets in the Midwest. Google’s Papillion data center has been continuously expanded since 2019, the Meta Sarpy Data Center campus spans Springfield and Papillion at 3.6M sqft with $1.5B+ announced capital, Google announced a $600M Lincoln campus, and Google’s cumulative Nebraska-region investment has surpassed $4.7B. Nebraska’s agricultural and grain-processing industrial base (ethanol, food processing, beef / pork processing, fertilizer manufacturing) creates a recession-resilient industrial electrical demand floor. Berkshire Hathaway, Mutual of Omaha, Union Pacific, and Werner Enterprises drive sustained commercial demand.

Active PE-backed and strategic Nebraska electrical buyers. Public strategic acquirers: IES Holdings (NYSE: IESC, already in Nebraska via IES Electrical Nebraska and the Shanahan Mechanical and Electrical Lincoln acquisition), MYR Group (NYSE: MYRG, substantial Midwest T&D), EMCOR (NYSE: EME), Comfort Systems USA (NYSE: FIX), APi Group (NYSE: APG). PE platforms: Bernhard Capital Partners, Wynnchurch Capital, Incline Equity Partners. Three regional Midwest electrical rollups cover Nebraska as part of multi-state mandates through Iowa, Kansas, Missouri, and the Dakotas.

What this means for Nebraska electrical contractor sellers. A $750K+ EBITDA Nebraska electrical contractor with data center, industrial, agricultural-processing, or recurring commercial maintenance exposure should expect 4-7 IOIs from a mix of public strategics, Midwest rollups, and PE industrial services platforms. A residential service shop without commercial mix or recurring revenue draws a narrower but real pool of SBA buyers and small regional operators. Highest leverage point: positioning around Sarpy County data center, industrial, or agricultural-processing exposure if any of that revenue exists.

Nebraska State Electrical Division (NSED) licensing: how Master, Journeyman, and Contractor licenses transfer in a sale

Nebraska electrical contractor licensing is administered by the Nebraska State Electrical Division (NSED), an agency of the State Electrical Board, under Nebraska Revised Statutes Chapter 81 Article 21 (the State Electrical Act). The licensing site is electrical.nebraska.gov. The categories most relevant to a sale are: Electrical Contractor (the entity-level license required to perform electrical work in Nebraska), Class A Master Electrician (full-scope qualifying party), Class B Master Electrician (limited-scope qualifying party), and Journeyman Electrician. License renewal is annual with a December 31 expiration. For the 2025-2026 renewal year, NSED fees include Class A Master $125, Class B Master $125, and Journeyman $25 per year.

Master and Journeyman license requirements. A Journeyman must complete 8,000 hours (4 years) of verifiable apprentice on-the-job training and pass an NSED exam covering the NEC, basic theory, blueprint reading, emergency and fire alarm circuits, and the Nebraska State Electrical Act. A two-year associate’s degree in electrical technology substitutes for one year. A Class A Master must have the qualifications and technical knowledge to plan, lay out, and supervise electrical installation, and must hold the NSED Class A Master license. The Master / Journeyman licenses are personal, they belong to the individual, not the company.

What this means in a sale: the entity Electrical Contractor license stays with the entity in a stock sale, but the qualifying Master must remain in place. When you sell a Nebraska electrical contracting business in a stock sale, the NSED Electrical Contractor license stays with the entity, subject to NSED notification of any change in qualifying party (Class A or Class B Master). The buyer’s entity must continue to satisfy the insurance requirement (general liability coverage of $100,000 per person, $300,000 per occurrence, $100,000 property damage) and must designate a qualifying Master. In an asset sale, the buyer’s entity must obtain its own Nebraska Electrical Contractor license, which requires its own qualifying Class A or Class B Master Electrician already in place at the buyer entity.

Reciprocity with Iowa, Minnesota, South Dakota, and Texas creates a genuine acquisition premium. The Nebraska State Electrical Board has reciprocal Electrical Contractor licensing with Iowa, Minnesota, South Dakota, and Texas. The Journeyman license has even broader reciprocity (Alaska, Arkansas, Colorado, Iowa, Idaho, Minnesota, Montana, New Mexico, North Dakota, Oklahoma, South Dakota, Texas, Wyoming). For a multi-state buyer with an Iowa or Texas footprint, plugging a Nebraska contractor into the platform is materially easier than a California or New York acquisition, one of the quiet reasons regional Midwest rollups punch above their weight in Nebraska deal flow.

How to handle NSED licensing 12-18 months before sale. If you’re the only Class A Master, your buyer pool is narrower because most institutional buyers will not accept a 24-month seller transition tied to your personal qualifying-party status. The playbook: identify a senior journeyman with the experience to sit for the NSED Class A or Class B Master exam, support them through prep, and add them as an additional qualifying party on the entity license. A second qualifying Master who is not the seller widens the buyer pool substantially, typically 0.5-1x EBITDA in higher offers.

Nebraska electrical segment dynamics: residential, commercial, industrial, agricultural processing, and data center

Nebraska electrical M&A divides into five segments with materially different buyer pools and multiples. Knowing which segment your business primarily serves is the most important positioning decision in the sale process. Nebraska has fewer specialty segments than California or Texas, but the segments it does have, data center, agricultural processing, and industrial, carry surprisingly strong multiples because of the scarcity of credentialed operators.

Residential service electrical: 2.5-3.75x SDE owner-op / 4-5x EBITDA platform. Service calls, panel upgrades, EV charging installation, generator installation, residential remodels. Buyer pool: SBA individuals, regional Midwest rollups, occasional search funder. Premium for shops with generator service contracts, EV charging recurring revenue, and Omaha / Lincoln / Grand Island / Kearney density.

Commercial electrical: 5-6.5x EBITDA platform. Tenant fit-outs, retail, hospitality, office, healthcare, light industrial. Buyer pool: regional Midwest rollups, public strategics (IES, EMCOR, Comfort Systems), Bernhard portfolio companies. Omaha commercial is supported by Berkshire Hathaway, Mutual of Omaha, Union Pacific, Werner. Lincoln is anchored by state government, UNL, and financial services. Premium for recurring commercial maintenance and tenant-improvement focus.

Industrial / agricultural processing electrical: 5.5-7.5x EBITDA platform. Ethanol plants, grain processing, beef and pork processing (Tyson, JBS, Cargill, Smithfield), fertilizer manufacturing, specialty agricultural manufacturing. Buyer pool: Wynnchurch, Incline Equity, Bernhard, IES, Comfort Systems, regional Midwest rollups. Premium for Class I Division 2 hazardous-location work, motor control center service, recurring industrial service contracts, and 24/7 emergency response.

Data center electrical: 6-8.5x EBITDA platform. Sarpy County hyperscale (Meta Sarpy at 3.6M sqft, Google Papillion, Google Omaha, Google Lincoln $600M campus) plus broader Highway 50 corridor activity. Buyer pool: specialized data center electrical platforms, IES Holdings (with dedicated data center capability and existing Nebraska presence), strategic Midwest operators, PE infrastructure platforms. Highest segment in Nebraska electrical. Miller Electric (Omaha) is the credentialed Meta wiring partner; comparable Nebraska-credentialed data center electrical contractors are scarce assets.

Utility / T&D / substation electrical: 5.5-7x EBITDA platform. Nebraska is the only U.S. state served entirely by consumer-owned electric utilities (NPPD, OPPD, Lincoln Electric System). T&D contractors who serve NPPD / OPPD / LES operate in a stable public-utility-driven environment without investor-owned-utility rate-case complexity. Buyer pool: MYR Group (NYSE: MYRG) is highly active, plus regional substation specialists. Premium for documented MSA work with the consumer-owned utilities and long-tenure linemen workforce.

Who actually buys Nebraska electrical businesses in 2026: the five buyer archetypes

The Nebraska electrical buyer pool divides into five archetypes with materially different motivations, multiples, and deal structures. Nebraska has fewer total buyers than Texas or Florida, but the active buyers are well-capitalized and pay platform-quality multiples for the right operators. Reciprocity with Iowa, Minnesota, South Dakota, and Texas means several buyers approach Nebraska as a Midwest tuck-in rather than a standalone market, which is good for sellers because it broadens the bidder set.

Archetype 1: Public strategic acquirers (IES, MYR, EMCOR, Comfort Systems, APi). IES Holdings (NYSE: IESC) is most directly relevant given its existing Nebraska footprint through IES Electrical Nebraska and the prior Shanahan Mechanical and Electrical (Lincoln) acquisition. MYR Group (NYSE: MYRG) is the dominant T&D and substation acquirer. EMCOR (NYSE: EME), Comfort Systems USA (NYSE: FIX), and APi Group (NYSE: APG) all acquire mechanical-electrical and industrial services contractors. Typical target: $1.5M-$15M EBITDA. Multiples: 5.5-8x EBITDA, mostly cash. Close: 90-150 days.

Archetype 2: PE-backed Midwest consolidators (Bernhard, Wynnchurch, Incline Equity). Bernhard Capital Partners runs multi-trade industrial services platforms. Wynnchurch Capital is a Midwest-headquartered industrial PE firm. Incline Equity Partners targets specialty contractors. Plus 3 regional Midwest electrical rollups covering Nebraska as part of multi-state mandates. Typical target: $1M-$8M EBITDA. Multiples: 5-7x EBITDA. Cash + 15-25% rollover + earnout. Close: 90-150 days.

Archetype 3: Search funders pursuing Midwest commercial / specialty electrical. Individual MBA-backed searchers and deal-by-deal investors. Nebraska search-fund activity is meaningful given Berkshire Hathaway visibility and the Omaha-based ETA community plus Creighton / UNL alumni networks. Typical target: $500K-$2.5M EBITDA. Multiples: 4-6x EBITDA. Close: 120-180 days.

Archetype 4: Regional Midwest strategic operators. Iowa-, Kansas-, Missouri-, and Texas-headquartered electrical contractors using the Nebraska Electrical Contractor license reciprocity (Iowa, Minnesota, South Dakota, Texas) to expand. Typical target: $750K-$5M EBITDA with Omaha, Lincoln, or western Nebraska operations. Multiples: 4.5-6.5x EBITDA. Close: 90-150 days.

Archetype 5: SBA 7(a)-financed individuals. First-time owner-operators targeting residential service shops in Omaha, Lincoln, and the I-80 corridor. Typical target: $200K-$700K SDE with a transferable Class A or Class B Master pathway. Multiples: 2.5-3.75x SDE. SBA 7(a) caps at $5M loan; deals top out around $7M EV. Close: 60-120 days.

Nebraska electrical buyer archetype	Typical multiple	Deal structure norms	Close timeline
Public strategic (IES, MYR, EMCOR, FIX, APi)	5.5-8x EBITDA	Cash-heavy, smaller rollover, earnout common	90-150 days
PE rollup (Bernhard, Wynnchurch, Incline, regional)	5-7x EBITDA	Cash + 15-25% rollover + earnout	90-150 days
Search funder	4-6x EBITDA	Senior debt + 10-20% seller note + earnout	120-180 days
Regional Midwest strategic (IA / TX / MN / SD reciprocal)	4.5-6.5x EBITDA	Cash + segment-fit rollover	90-150 days
SBA 7(a) individual (residential)	2.5-3.75x SDE	10% buyer equity, 20-30% seller note, training	60-120 days

Buyer type	Cash at close	Rollover equity	Exclusivity	Best fit for
Strategic acquirer	High (40–60%+)	Low (0–10%)	60–90 days	Sellers who want a clean exit; competitor or upstream consolidator
PE platform	Medium (60–80%)	Medium (15–25%)	60–120 days	Sellers willing to hold rollover for the second sale; bigger deals
PE add-on	Higher (70–85%)	Low–Medium (10–20%)	45–90 days	Sellers folding into existing platform; faster process
Search fund / ETA	Medium (50–70%)	High (20–40%)	90–180 days	Legacy-conscious sellers wanting an owner-operator successor
Independent sponsor	Medium (55–75%)	Medium (15–30%)	60–120 days	Sellers OK with deal-by-deal capital and longer financing closes

Nebraska electrical multiples by size and segment: what 2026 deal data shows

Nebraska electrical multiples vary by segment but with a tighter range than California or New York. A $1M EBITDA residential service contractor and a $1M EBITDA Sarpy County data center electrical specialist still trade 1.5-2x EBITDA apart, but the gap is smaller than coastal markets because the overall Nebraska range is more compressed. Within each segment, size still drives meaningful expansion as the business crosses key thresholds.

Sub-$1M revenue residential service: 0.4-0.7x revenue / 2-3x SDE. Micro-shops sold through BizBuySell and Midwest brokers to SBA buyers. Owner-dependent. Multiples compress further if the owner is the only Class A or Class B Master, if 1099 misclassification exists, or if NSED has open complaints.

$1M-$3M revenue residential or light commercial: 0.5-0.9x revenue / 2.5-3.75x SDE. Core SBA buyer territory. Multiples improve with recurring service contracts, tech-enabled dispatch (ServiceTitan, Procore), documented systems and operations manager, 30%+ commercial mix, clean W-2 classification, Class A or Class B Master succession in place, and Omaha / Lincoln metro density.

$3M-$10M revenue / $500K-$2M EBITDA commercial/industrial: 5-6.5x EBITDA. Wider buyer pool: search funders, independent sponsors, regional PE add-ons (Bernhard, Wynnchurch, Incline), public strategic interest (IES Electrical Nebraska is a logical acquirer). Multiples accelerate with recurring service, low concentration, second-tier management tenure, NPPD / OPPD / LES MSA work, and proven specialty (data center adjacent, agricultural processing, industrial).

$10M-$25M revenue / $2M-$4M EBITDA industrial/specialty: 5.5-7.5x EBITDA. Platform territory for PE rollups and prime targets for IES Holdings, MYR Group (T&D), EMCOR, Comfort Systems USA, and APi Group. Premium for agricultural processing, data center, semiconductor-adjacent, Sarpy County data center experience, and recurring commercial maintenance.

$25M+ revenue / $4M+ EBITDA specialty/data center: 6-8.5x EBITDA. Platform-of-the-platform deals. Strategic premium from public consolidators paying up for proven hyperscale data center, agricultural processing, or T&D specialty platforms. Nebraska platforms at this size with credentialed Sarpy County data center or NPPD / OPPD MSA work typically draw 3-5 competitive bids. The scarcity of credentialed Nebraska electrical contractors at scale drives the bid.

Nebraska electrical business profile	Revenue multiple range	SDE/EBITDA multiple range	Dominant buyer pool
Sub-$1M revenue residential	0.4-0.7x revenue	2-3x SDE	SBA individual
$1M-$3M revenue residential/commercial	0.5-0.9x revenue	2.5-3.75x SDE	SBA + occasional search funder
$3M-$10M / $500K-$2M EBITDA	0.6-1.1x revenue	5-6.5x EBITDA	Search, indie sponsor, PE add-on, public strategic
$10M-$25M / $2M-$4M EBITDA	0.7-1.3x revenue	5.5-7.5x EBITDA	PE rollup, public strategic, regional Midwest
$25M+ / $4M+ EBITDA specialty	0.9-1.5x revenue	6-8.5x EBITDA	Public strategic, PE platform-of-platform

Nebraska state tax dynamics and the LB 754 phase-down: the after-tax math sellers must understand

Nebraska treats capital gains as ordinary income. Unlike the federal government, Nebraska makes no distinction between long-term and short-term capital gains or between capital gains and ordinary income. All capital gains are taxed at regular Nebraska state income tax rates. For a business sale, the seller’s gain is taxed at Nebraska’s top individual rate in the year of sale, on top of federal capital gains tax (15-20% plus 3.8% NIIT).

The LB 754 phase-down materially changes the after-tax math year by year. Nebraska enacted LB 754 in 2023, reducing the top rate on a schedule: 5.84% (2024), 5.20% (2025), 4.55% (2026), 3.99% flat (2027+). For a $5M long-term gain, closing in 2027 versus 2024 preserves roughly $90K-$100K of after-tax proceeds before any other planning. On a $10M gain, the differential is roughly $185K. This is one of the few U.S. M&A situations where waiting a year or two genuinely saves meaningful money, a Nebraska-specific dynamic most out-of-state advisors miss.

How Nebraska compares to neighboring states in 2027. Once 3.99% flat phases in, Nebraska is meaningfully lower than Iowa (post-2023 reform, 3.8% flat from 2025), comparable to other Midwest states, and dramatically better than Minnesota (~9.85%). Still higher than no-tax states (South Dakota, Wyoming, Texas, Florida), but the differential narrows enough that pre-sale relocation no longer has a strong case. The 2024-2025 Nebraska seller had a real Iowa or South Dakota relocation case; the 2027 seller largely does not.

Asset allocation negotiation matters more for Nebraska sellers than most realize. In an asset sale, allocation between equipment (ordinary income recapture), inventory (ordinary), goodwill (long-term capital gains), and non-compete (ordinary to seller) determines after-tax proceeds. Because Nebraska taxes capital gains and ordinary income at the same rate, the federal allocation matters disproportionately, the federal capital-gains-vs-ordinary gap is the entire benefit. Engage tax counsel at LOI; skilled negotiation can shift $75K-$300K of after-tax proceeds on a typical mid-size deal.

Sarpy County data center demand and the ‘Lester Electrical and private equity’ question

‘Lester Electrical and private equity and Nebraska’ is one of the most-searched terms among Nebraska electrical sellers exploring an exit, and it’s based on a misunderstanding worth correcting. Lester Electrical of Nebraska, headquartered in Lincoln, is a 60-year battery-charger manufacturer that became an Employee Stock Ownership Plan (ESOP) company in January 1978. It is not a private-equity-owned electrical contractor. The recurring search interest reflects Nebraska sellers wondering whether the Lester ESOP is the right model for their own exit. For most Nebraska electrical contractor sellers, the answer is no, ESOPs typically clear at lower multiples than third-party PE or strategic buyers, take 6-12 months longer to close, and require 5-8 years of post-close payments. The right comparable for a Nebraska electrical seller in 2026 is not the Lester ESOP; it’s the active acquirer pool drawn into the state by Sarpy County data center demand and Midwest reciprocity.

Sarpy County data center buildouts are the demand story that resets Nebraska electrical valuations. The Highway 50 corridor in Sarpy County is home to a Google Papillion campus (operating since 2019), a Meta (Facebook) Sarpy Data Center spanning Springfield and Papillion at 3.6M sqft with $1.5B+ announced capital investment, additional Google sites in Omaha and a $600M Lincoln campus, and regional commitments from Microsoft and other hyperscalers. Cumulative Google investment in the Nebraska region has surpassed $4.7B. The implication: data-center-credentialed contractors are scarce, the demand pipeline is multi-year, and acquisition multiples reflect that scarcity.

Miller Electric (Omaha) and the credentialing premium. Miller Electric, an Omaha-based commercial electrical contractor, won the contract to wire Meta’s Sarpy Data Center campus, working as part of the Hunt Miller team with Turner Construction. That relationship illustrates how scarce data-center-credentialed Nebraska contractors are, and the premium a buyer will pay. If your business has meaningful Sarpy County data center work (Meta, Google, or associated colocation facilities), or documented hyperscale infrastructure experience (medium-voltage switchgear, generator paralleling, UPS systems, busway distribution at scale), the credential alone can move your multiple 0.5-1.5x EBITDA above an otherwise identical commercial contractor.

What this means for sellers without data center exposure. Don’t fake it, buyers will check, and overstated data center exposure is the fastest way to lose a deal in diligence. But: (1) general industrial, agricultural processing, and recurring commercial maintenance command solid multiples on their own merits; (2) the data center surge has pulled labor and project-management capacity out of the broader Nebraska commercial electrical market, so non-data-center work also has stronger pricing and backlog visibility than 5 years ago. The whole market is lifted.

Service mix and recurring revenue: the highest-leverage multiple driver in Nebraska electrical

Recurring service revenue is the highest-leverage multiple driver in Nebraska electrical M&A. An electrical contractor with 30%+ of revenue from recurring service contracts (commercial property management, industrial service, agricultural processing facility, data center service, NPPD / OPPD / LES utility-side recurring) trades at a 0.4-0.8x EBITDA premium versus an otherwise identical project-only contractor. Nebraska buyers value recurring revenue heavily because it provides downside protection against agricultural cycle and project-pipeline volatility.

What Nebraska electrical buyers value most. (1) Recurring service contract count and annual value, especially with industrial, agricultural processing, healthcare, and data center customers; (2) MSA work with hyperscale data center operators (Meta, Google) or their general contractors (Turner, DPR, Mortenson, Holder); (3) MSAs with NPPD, OPPD, or Lincoln Electric System; (4) service vs project revenue percentage; (5) gross margins on residential and commercial / industrial; (6) customer retention; (7) geographic density (Omaha, Lincoln, Grand Island, Kearney, North Platte, Scottsbluff); (8) specialty certifications (Class I Division 2, NFPA 70E, OSHA 30); (9) electrician retention; (10) Class A / Class B Master succession planning.

Why project-only revenue compresses Nebraska multiples. Project-only revenue is high-variance and dependent on pipeline development. Nebraska construction cycles can be volatile when agricultural commodity prices move sharply, which affects ag-adjacent industrial spending. PE rollups and public strategics explicitly target Nebraska contractors with 30-50%+ recurring revenue.

How to reposition mix in 12-18 months pre-sale. Aggressively grow recurring contracts: commercial property management agreements (Omaha, Lincoln); agricultural processing facility maintenance (Tyson, JBS, Cargill, Smithfield, ADM, ethanol facilities); MSA work with NPPD, OPPD, LES; data center recurring service where credentialing supports it; preventative electrical maintenance for healthcare and education (UNL, Creighton, Methodist, Nebraska Medicine, Children’s). Owners who execute this shift see pre-sale multiples improve 0.75-1.5x EBITDA, often $750K-$3M of additional enterprise value.

What Nebraska electrical buyers diligence: the checklist that determines your final price

Nebraska electrical diligence is more focused than California or New York but every bit as thorough on the items that matter. Buyers want to verify earnings (SDE/EBITDA quality), validate revenue mix and customer concentration, confirm electrician retention and productivity, validate NSED licensing and Class A / Class B Master succession, validate worker classification, validate any prevailing wage compliance on public works (federal Davis-Bacon on federally funded projects, state Nebraska Wage Payment and Collection Act compliance), assess multiemployer pension withdrawal liability if IBEW Local 22 or Local 265 union, evaluate OSHA compliance, and assess warranty exposure.

Earnings quality and add-back validation. 24-36 months of monthly P&Ls matched to Nebraska Department of Revenue filings. CPA-prepared annual financial statements. Documented add-backs with receipts. Bank reconciliations. AR aging and bad debt history. Job costing reports, WIP schedules, and backlog with contract detail. Nebraska sales and use tax (Form 10), withholding, and Nebraska Department of Labor unemployment insurance compliance.

Revenue mix, customer concentration, and worker classification. Service vs project breakdown by year. Recurring contract count, retention rate, average annual value. Top 10 customer concentration. Commercial / industrial / residential mix. Davis-Bacon history on any federally funded work. 1099 vs W-2 classification audit (Nebraska follows the federal common-law test, more permissive than California’s ABC test, but buyers still scrutinize 1099 use). Data center, agricultural processing, healthcare, and NPPD / OPPD / LES customer disclosure.

Electrician headcount, productivity, and NSED licensing. Electrician roster with tenure, comp, NSED Journeyman / Master credentials, OSHA 30, NFPA 70E arc-flash, manufacturer certifications, hazardous-location experience, W-2 vs 1099 status, I-9 documentation. 24-month retention. NSED qualifying-party documentation (Class A or Class B Master) for the entity license, contractor insurance ($100K/$300K/$100K), any NSED complaints or disciplinary actions, apprentice pipeline, IBEW Local 22 or Local 265 status.

Fleet, equipment, warranty, and Nebraska regulatory exposure. Service van count, age, replacement schedule. Specialty equipment (bucket trucks, digger derricks, cable pullers, Hi-Lift trucks). Outstanding warranty exposure. Real estate ownership and lease terms. Nebraska DEQ environmental compliance, OSHA 300 logs, Nebraska Workers’ Compensation Court claim history, Davis-Bacon compliance on federal projects, general liability and workers’ comp coverage, past lawsuits, surety bond status, and NEBF multiemployer pension disclosure if IBEW signatory.

Component	Typical share of price	When you actually receive it	Risk to seller
Cash at close	60–80%	Wire on closing day	Low, this is real money
Earnout	10–20%	Over 18–24 months, performance-based	High, routinely paid out at less than face value
Rollover equity	0–25%	At the next platform sale (typically 4–6 years)	Variable, can multiply or go to zero
Indemnity escrow	5–12%	12–24 months after close (if no claims)	Medium, usually returned, sometimes contested
Working capital peg	+/- 2–7% of price	Adjustment at close or 30-90 days post	High, methodology disputes are common

IBEW Local 22 (Omaha) and Local 265 (Lincoln) union dynamics and pension withdrawal liability

Nebraska has two primary IBEW locals serving the electrical contracting industry. IBEW Local 22 has been Omaha’s electrical construction union since 1892 (one of the oldest continuously operating IBEW locals in the country). IBEW Local 265 covers Lincoln and Grand Island. Both locals participate in a labor-management partnership with the National Electrical Contractors Association (NECA) Nebraska Chapter, which represents roughly 40 contractors in Omaha and 12 contractors in Lincoln. Buyers will treat union vs non-union as a major diligence dimension; both have valid acquisition theses but the diligence work differs.

Multiemployer pension withdrawal liability for union shops. IBEW signatory contractors typically participate in the National Electrical Benefit Fund (NEBF) or a regional NEBF-affiliated plan. On sale, withdrawal under ERISA Section 4203 triggers liability based on the plan’s unfunded vested benefits and the contractor’s share of contributions. Nebraska union shops typically face $200K-$3M withdrawal liability. The Section 4204 sale-of-assets exception lets a buyer assume the seller’s contribution obligation, but requires structuring (5-year successor obligation, bond). Engage ERISA counsel 12+ months pre-sale.

Union vs non-union acquisition theses. Union Nebraska contractors are attractive to MYR Group, EMCOR, IES, and Bernhard for workforce quality, NECA apprenticeship pipeline, hyperscale data center labor access, and broader public-sector / large-commercial bidding. Trade-off: multiemployer pension liability and labor-cost rigidity. Union shops can carry a 0.25-0.5x EBITDA premium on quality assurance grounds. Non-union (open shop) Nebraska contractors are attractive to PE rollups, search funders, and regional Midwest strategics for cost flexibility, broader private-work bidding, and no pension exposure. Multiples roughly comparable at platform scale.

The 18-24 month preparation playbook for Nebraska electrical sellers

Nebraska electrical contractors who do real 18-24 month preparation routinely sell for 1-2.5x EBITDA more than unprepared sellers. Nebraska is more forgiving than California, but preparation still drives the outcome. The four highest-leverage actions are: (1) Class A / Class B Master succession planning so the buyer is not dependent on the seller staying as qualifying party; (2) clean W-2 worker classification with no 1099 electricians; (3) recurring service revenue growth to 30%+ of mix; (4) for union shops, ERISA counsel review of multiemployer pension withdrawal liability and Section 4204 structuring. Owners who skip prep don’t exit faster, they exit at 25-40% lower after-tax proceeds.

Months 24-18: financial cleanup and segment positioning. Monthly closes by the 15th. CPA-prepared annual financial statements. Job costing tied to accounting. Document add-backs with receipts. Begin segment positioning: data center, industrial, agricultural processing, commercial, residential, or T&D. Address Nebraska Department of Revenue compliance. Resolve any open NSED complaints. If timing allows, target a 2027 close to capture the 3.99% flat rate.

Months 18-12: NSED succession, worker classification, ERISA review. Identify a senior journeyman to sit for the NSED Class A or Class B Master exam. Reclassify any 1099 electricians as W-2. For union shops: actuarial valuation of NEBF withdrawal liability and ERISA counsel engagement. Resolve open litigation, OSHA citations, or environmental matters. Audit Davis-Bacon compliance on prior 4 years of federally funded work.

Months 12-6: reduce owner dependency and build management depth. Identify what only you do today. Document SOPs. Promote or hire a general manager. Take a 30-day extended absence 9 months pre-market. Build out second-tier management for estimating, project management, and field supervision. Strengthen recurring service contracts aggressively with industrial, agricultural processing, healthcare, and Sarpy County data center customers.

Months 6-0: data room, CIM, and buyer-pool targeting. Compile 36 months of tax returns, financials, payroll registers (W-2 only), customer contracts, MSAs, NSED documentation with Class A / Class B Master records, insurance, and equipment lists. Build a CIM emphasizing your segment’s buyer-relevant story: data center for IES / specialty PE; industrial / agricultural processing for Wynnchurch / Bernhard / Comfort Systems; T&D for MYR Group; commercial for regional Midwest rollups. Engage tax counsel for asset allocation and 2027-vs-2026 timing analysis.

Nebraska electrical sale process timeline: what actually happens month by month

Nebraska electrical sale processes run 7-11 months for sub-$1M EBITDA deals and 10-13 months for $1M+ EBITDA platform or strategic deals. Nebraska timelines are roughly comparable to Texas or Iowa, faster than California or New York because regulatory diligence is simpler. Add 18-24 months on the front for proper preparation if your books, NSED licensing succession, worker classification, and recurring revenue mix aren’t already buyer-ready.

Months 1-2: positioning and outreach. Build the CIM (15-25 pages for sub-$1M; 30-50 pages for $1M+ EBITDA). Reach out to public strategics (IES Holdings via IES Electrical Nebraska, MYR Group, EMCOR, Comfort Systems USA, APi Group), PE-backed Midwest consolidators (Bernhard, Wynnchurch, Incline Equity), regional Midwest strategic operators using reciprocity (Iowa, Texas, Minnesota, South Dakota), Midwest-focused search funders (Omaha has a strong ETA community), and SBA buyers. Target 5-10 serious initial conversations.

Months 2-4: management meetings and indications of interest. Take 4-7 buyer meetings. Receive 3-5 IOIs. Negotiate to a single LOI.

Months 4-8: LOI, diligence, financing, and NSED planning. Sign LOI with 60-90 day exclusivity. Buyer diligence: financial QoE for $1M+ EBITDA deals; worker classification review; NSED license transfer review with Nebraska contractor licensing counsel; Davis-Bacon if applicable; OSHA; NEBF withdrawal liability analysis if IBEW Local 22 or Local 265 signatory; environmental; customer interviews; project portfolio review.

Months 8-10: definitive agreement and close. Purchase agreement: working capital target, indemnification caps, R&W insurance for $1M+ EBITDA deals, non-compete (typically 3-5 years, 50-100 mile radius, broadly enforceable in Nebraska), seller employment agreement if Master succession requires. NSED change-of-qualifying-party filings. Employee and customer notification.

Months 10+: transition and NSED compliance. Post-close transition typically 60-180 days. Seller available by phone for 6-12 months. NSED qualifying-party transition monitoring. Earnouts 12-36 months.

Sell Your Electrical Business in Other States: Sibling Guides

Sibling state guides for selling a electrical business. Each guide below covers state-specific licensing, multiple ranges, tax considerations, and named PE buyers active in that geography. If you operate in multiple states, the multi-state premium typically adds 0.5-1.5x to EBITDA multiple at exit (buyers value contiguous coverage).

State-by-state guides: Sell Your Electrical Business in Texas · Sell Your Electrical Business in Florida · Sell Your Electrical Business in California · Sell Your Electrical Business in New York · Sell Your Electrical Business in Pennsylvania · Sell Your Electrical Business in Illinois · Sell Your Electrical Business in Idaho · Sell Your Electrical Business in Utah

For valuation context that applies regardless of state: See our electrical business valuation guide for nationwide multiple ranges and PE buyer pool. Run our free 90-second valuation calculator for a starting-point estimate. Or browse the full sell-your-business hub for all verticals and states.

Common mistakes Nebraska electrical sellers make (and how to avoid them)

Mistake 1: ignoring NSED Class A / Class B Master succession until LOI. Buyers walk from deals when the entity license is dependent on a seller-only qualifying party. Address this 12-18 months in advance: identify a senior journeyman with adequate experience, support them through the NSED Class A or Class B Master exam, and add them as an additional qualifying party on the entity license.

Mistake 2: not understanding the LB 754 phase-down timing. A 2024 close at Nebraska’s 5.84% top rate produces materially worse after-tax proceeds than a 2027 close at the 3.99% flat rate. On a $5M gain, the differential is roughly $90K-$100K. Sellers who can credibly delay 12-24 months into the lower rate should at least model the trade-off seriously.

Mistake 3: positioning your business as the wrong segment. A Nebraska industrial or agricultural-processing electrical contractor positioned as a residential service business gets 3-4x EBITDA. The same business positioned correctly as an industrial specialist gets 5.5-7.5x EBITDA. Sarpy County data center exposure is the single highest-leverage credential available to a Nebraska electrical seller in 2026, if you have it, position around it.

Mistake 4: confusing Lester Electrical’s ESOP with the right exit model. Lester Electrical of Nebraska is a 60-year battery-charger ESOP, not an electrical contractor PE deal. ESOPs clear at lower multiples and require 5-8 years of post-close payments. For most Nebraska electrical contractor sellers, third-party sale produces materially better economics.

Mistake 5: ignoring NEBF pension withdrawal liability for IBEW Local 22 or Local 265 shops. Union shops face NEBF withdrawal liability of $200K-$3M+. The Section 4204 sale-of-assets exception requires ERISA counsel structuring 12+ months pre-sale. Sellers who skip this lose 0.5-1.5x EBITDA in escrow holdbacks or buyer walk-aways.

Mistake 6: missing the Midwest reciprocity buyer pool. Iowa-, Texas-, Minnesota-, and South Dakota-headquartered electrical contractors can plug Nebraska into existing platforms with minimal licensing friction. Sellers who only target named public strategic buyers miss this entire bidder set.

Mistake 7: running a generic Nebraska broker auction. Generic Nebraska brokers don’t have direct relationships with IES Holdings, MYR Group, EMCOR, Bernhard Capital, Wynnchurch, or Incline Equity. A targeted, relationship-led process to the Midwest specialty electrical buyer pool consistently produces 0.75-1.5x EBITDA more than auction processes.

Sell Your Electrical Business in Nebraska: 2026 Outlook and Key Takeaways

Selling an electrical business in Nebraska in 2026 is one of the most underrated electrical M&A markets in the Midwest, with a quietly strong active buyer pool, simple licensing, contractor-license reciprocity with four adjacent states, and a state income tax phasing to 3.99% flat by 2027. NSED Class A or Class B Master succession is the deal-blocker most owners underestimate, address it 12-18 months in advance. Worker classification cleanup is straightforward but non-negotiable. The LB 754 phase-down to 3.99% by 2027 is real money, sellers who can credibly time their close into the lower rate should model the trade-off. Sarpy County data center exposure (Meta, Google, plus the announced Lincoln campus) is the single highest-leverage segment positioning available. Realistic 2026 multiples: 2.5-3.75x SDE for sub-$1M residential; 5-6.5x EBITDA for $1M-$3M commercial / industrial; 5.5-7.5x EBITDA for industrial / agricultural processing; 6-8.5x EBITDA for data center / hyperscale specialty. Of our 76+ buyers, 11 actively bid on Nebraska electrical contracting in 2024-2026. We’re a buy-side partner, the buyers pay us, not you, no contract required.

Sell Your Electrical Business in Nebraska: Frequently Asked Questions

How much is my electrical business in Nebraska worth?

Sub-$1M revenue residential service: 0.4-0.7x revenue or 2-3x SDE. $1M-$3M revenue residential/commercial: 0.5-0.9x revenue or 2.5-3.75x SDE. $3M-$10M revenue / $500K-$2M EBITDA commercial/industrial: 5-6.5x EBITDA. $10M-$25M revenue / $2M-$4M EBITDA industrial/specialty: 5.5-7.5x EBITDA. $25M+ revenue with Sarpy County data center, agricultural processing, or T&D specialty: 6-8.5x EBITDA. Sarpy County data center credentialing typically adds 0.5-1.5x EBITDA above an otherwise identical commercial contractor.

How does the NSED Electrical Contractor license transfer in a Nebraska electrical business sale?

In a stock sale, the NSED Electrical Contractor license stays with the entity, subject to NSED notification of any change in qualifying party (Class A or Class B Master). The buyer must continue to satisfy insurance ($100K/$300K/$100K) and designate a qualifying Master. In an asset sale, the buyer’s entity must obtain its own license with its own qualifying Master. If you’re the only Master, address 12-18 months pre-sale by grooming a senior journeyman through the NSED Master exam.

How does the LB 754 income tax phase-down affect my Nebraska electrical sale?

Nebraska’s top rate phases from 5.84% (2024) to 5.20% (2025) to 4.55% (2026) to a flat 3.99% (2027+). Nebraska taxes capital gains as ordinary income, so year of close directly affects state tax. On a $5M gain, 2024 vs 2027 close is roughly $90K-$100K of preserved after-tax proceeds. Sellers who can credibly time their close should model 2027 vs earlier-year close carefully.

What does ‘Lester Electrical and private equity and Nebraska’ really mean for my sale?

Lester Electrical of Nebraska is a 60-year battery-charger manufacturer in Lincoln that became an ESOP in January 1978, not an electrical contractor and not PE-owned. The recurring search reflects sellers wondering whether the ESOP model applies to them; for most Nebraska electrical contractor sellers, third-party PE or strategic sale produces materially better economics, faster closes, and cleaner exits. ESOPs clear at lower multiples and require 5-8 years of post-close payments.

Who actually buys Nebraska electrical contractors in 2026?

Five archetypes: public strategics (IES Holdings NYSE: IESC, already in Nebraska via IES Electrical Nebraska and the Shanahan Lincoln acquisition; MYR Group NYSE: MYRG; EMCOR NYSE: EME; Comfort Systems USA NYSE: FIX; APi Group NYSE: APG); PE-backed Midwest consolidators (Bernhard Capital, Wynnchurch, Incline Equity, regional rollups); search funders pursuing $500K-$2.5M EBITDA; regional Midwest strategic operators using Iowa / Minnesota / South Dakota / Texas reciprocity; SBA 7(a) individuals (residential). Of our 76+ buyers, 11 actively bid on Nebraska electrical in 2024-2026.

How does Sarpy County data center demand affect Nebraska electrical multiples?

Significantly. Meta’s Sarpy Data Center (3.6M sqft, $1.5B+ capital), Google’s Papillion campus, Google’s $600M Lincoln campus, and additional Sarpy County hyperscale activity have created sustained data center electrical demand. Credentialed Nebraska data center contractors are scarce. Meaningful Meta or Google project work can move your multiple 0.5-1.5x EBITDA above an otherwise identical commercial electrical contractor. Miller Electric (Omaha) is the credentialed Meta wiring contractor.

How does the Nebraska Electrical Contractor reciprocity with Iowa, Minnesota, South Dakota, and Texas affect my sale?

It broadens your buyer pool meaningfully. Iowa-, Minnesota-, South Dakota-, and Texas-headquartered electrical contractors can absorb a Nebraska contractor into their platform without rebuilding licensing. This reciprocity is one of the quiet reasons regional Midwest electrical rollups punch above their weight in Nebraska deal flow. Sellers targeting only named public strategics miss the regional Midwest strategic bidder set entirely.

How does multiemployer pension withdrawal liability work for Nebraska IBEW Local 22 (Omaha) or Local 265 (Lincoln) electrical contractors?

IBEW signatory contractors typically participate in the National Electrical Benefit Fund (NEBF). On sale, ERISA Section 4203 withdrawal liability is calculated from the plan’s unfunded vested benefits and the contractor’s contribution share. Nebraska union shops typically face $200K-$3M liability. The Section 4204 sale-of-assets exception requires structuring with ERISA counsel 12+ months pre-sale.

What’s the difference between residential, commercial, industrial, agricultural processing, and data center Nebraska electrical multiples?

Residential service: 2.5-3.75x SDE owner-op / 4-5x EBITDA platform. Commercial: 5-6.5x EBITDA. Industrial / agricultural processing: 5.5-7.5x EBITDA. Data center / hyperscale specialty (Sarpy County): 6-8.5x EBITDA (the highest). T&D / utility-side: 5.5-7x EBITDA. Segment positioning is the highest-leverage decision in Nebraska electrical M&A, specialty premium can be 2-3x EBITDA above generic commercial.

How long does it take to sell an electrical business in Nebraska?

Sub-$1M EBITDA: 7-11 months from launch to close. $1M+ EBITDA platform or strategic deals: 10-13 months. Roughly comparable to Texas or Iowa, faster than California or New York because regulatory diligence is simpler. Add 18-24 months on the front for proper preparation if books, NSED succession, worker classification, and recurring revenue mix aren’t already buyer-ready.

Should I sell my Nebraska electrical business in Omaha, Lincoln, or somewhere else?

Geographic positioning matters less than segment positioning. Omaha is the largest metro (Berkshire Hathaway, Mutual of Omaha, Union Pacific, Werner) and the heart of Sarpy County data center demand, ideal for commercial / data center / industrial buyers. Lincoln is the state capital plus UNL anchor, strong for healthcare, education, state government, and Google’s $600M campus. Greater Nebraska (Grand Island, Kearney, North Platte, Scottsbluff) supports agricultural processing and rural commercial. Right answer depends on segment fit, not metro.

What recurring revenue or service mix do Nebraska electrical buyers want?

30%+ recurring service revenue is the threshold where multiples step up 0.4-0.8x EBITDA. Recurring includes commercial property management agreements (Omaha and Lincoln), agricultural processing facility contracts (Tyson, JBS, Cargill, Smithfield, ADM), healthcare facility service (Methodist, Nebraska Medicine, Children’s), MSAs with NPPD / OPPD / Lincoln Electric System, and hyperscale data center service. Project-only contractors trade 0.5-1x EBITDA below recurring-revenue contractors.

How is CT Acquisitions different from a Nebraska electrical broker or M&A advisor?

We’re a buy-side partner, not a sell-side broker. Sell-side brokers represent you and charge you 8-12% of the deal plus monthly retainers, run a 9-12 month auction, and require 12-month exclusivity. We work directly with 76+ active U.S. lower middle market buyers, including 11 with active Nebraska electrical mandates: IES Holdings (NYSE: IESC, already in Nebraska), MYR Group (NYSE: MYRG), EMCOR Group (NYSE: EME), Comfort Systems USA (NYSE: FIX), APi Group (NYSE: APG), Bernhard Capital Partners, Wynnchurch Capital, Incline Equity, plus 3 regional Midwest electrical rollups. The buyers pay us when a deal closes, not you. You pay nothing. No retainer, no exclusivity, no contract until a buyer is at the closing table. We move faster (60-120 days from intro to close at the right tier) because we already know who the right buyer is.

Sources & References

All claims and figures in this analysis are sourced from the publicly available references below.

1. https://electrical.nebraska.gov/
2. https://electrical.nebraska.gov/electrical-contractor
3. https://electrical.nebraska.gov/2025-2026-license-registration-fees
4. https://revenue.nebraska.gov/
5. https://platteinstitute.org/summary-and-analysis-of-income-tax-reform-in-lb-754/
6. https://www.census.gov/quickfacts/NE
7. https://investors.ies-corporate.com/news-releases/news-release-details/integrated-electrical-services-acquires-shanahan-mechanical-and
8. https://iesnebraska.com/
9. https://datacenters.google/locations/nebraska/
10. https://baxtel.com/data-center/meta-sarpy-nebraska
11. https://millerelect.com/electrical-wiring-community-go-hand-in-hand-at-sarpy-data-center/
12. https://www.ibew22.org/
13. https://www.ibew265.org/
14. https://neneca.com/
15. https://www.pbgc.gov/prac/multiemployer