Onni-Rye Holdings acquires Oilfield Electric Company

By AI, Created 7:06 PM UTC, May 27, 2026, /AGP/ – Keystone Business Advisors announced the acquisition of Ventura-based Oilfield Electric Company by Onni-Rye Holdings, a partnership between Onni Group and Rye Electric. The deal keeps Oilfield Electric under new ownership with Alan Fletcher staying on as a consultant and a new general manager taking over operations.

Why it matters: - The acquisition gives Oilfield Electric Company a new owner while preserving the 1940-founded contractor’s role in Ventura and Santa Barbara Counties. - The deal positions the electrical services provider for a new growth phase in healthcare, water treatment, agriculture, commercial and industrial facilities, education, and government.

What happened: - Keystone Business Advisors announced that Onni-Rye Holdings acquired Oilfield Electric Company. - Onni-Rye Holdings is a strategic partnership between Onni Group and Rye Electric. - The announcement was made May 27, 2026, in Ventura, California. - The terms of the transaction were not disclosed.

The details: - Oilfield Electric Company was founded in 1940 and has built a long-standing business in industrial and commercial electrical services. - Alan Fletcher, owner of Oilfield Electric Company, said the partnership creates opportunities for growth and supports continued client service. - Fletcher will remain involved in a consulting capacity during the transition. - A seasoned Onni-Rye executive has been appointed general manager to lead the company under new ownership. - Keystone Business Advisors described the transaction as one aimed at supporting the company’s next phase of growth while preserving its legacy. - Keystone Business Advisors is a sell-side M&A advisory firm focused on founder-owned businesses with enterprise values of about $5 million to $100 million. - Onni Group is a North American real estate development company with more than 50 years of experience and a portfolio spanning residential, commercial, retail and industrial properties. - Rye Electric is a California-based electrical construction and engineering firm founded in 2013 and headquartered in Laguna Niguel. - Rye Electric specializes in commercial electrical design, construction, preconstruction, BIM, low-voltage systems, and modular/prefabricated solutions.

Between the lines: - The transaction combines a long-standing local electrical contractor with a larger operating platform that already works in related construction and development sectors. - Keeping Alan Fletcher involved signals continuity for customers and employees during the handoff. - Naming a new general manager suggests Onni-Rye Holdings plans active operational oversight rather than a passive investment.

What’s next: - Oilfield Electric Company will continue operating under new ownership as the transition moves forward. - Fletcher’s consulting role and the new general manager are expected to guide the changeover. - No financial details were released, so the market cannot gauge valuation or deal structure from the announcement.

The bottom line: - Onni-Rye Holdings has added a nearly 86-year-old electrical services business to its portfolio, with continuity built into the transition.