Lake Erie Electric Company Profile

Background

Lake Erie Electric, established in 1952 in Lorain, Ohio, is a prominent electrical contracting firm serving industrial and commercial clients across the Midwest, particularly in Ohio and southern Michigan. The company's mission is to provide electrical construction services that exceed customer expectations, maintain a safe work environment, and earn a reasonable profit. This commitment has propelled Lake Erie Electric into the Engineering News-Record (ENR) Top 50 Electrical Contractors, underscoring its significant role in the electrical construction industry.

Key Strategic Focus

Lake Erie Electric's strategic focus encompasses:

Electrical Construction: Offering comprehensive project management services, including design, installation, and commissioning of major electrical systems for large-scale construction projects.

Service & Maintenance: Providing daily and preventative maintenance, electrical inspections, testing, training services, and 24/7 emergency response.

Technologies & Systems: Designing, installing, and servicing low-voltage fiber and copper cabling, access control, audio/visual, CCTV, intercom, fire alarm, and security systems.

The company targets diverse sectors such as healthcare, manufacturing, renewable energy, automotive, steel, government, institutional, power generation, and data centers.

Financials and Funding

As of April 2025, Lake Erie Electric's annual revenue is estimated between $100 million and $1 billion, with approximately 501 employees. The company's financial strength has enabled it to bid and execute electrical construction projects of varying sizes, supporting growth through strategic acquisitions.

Pipeline Development

Lake Erie Electric has a history of completing significant projects, including:

The Lumen at Playhouse Square: A 34-story luxury apartment complex in Cleveland's Theatre District, encompassing over 600,000 square feet and 318 apartment suites.

Crystal Clinic Orthopaedic Center: A hospital in Fairlawn, Ohio, where Lake Erie Electric provided the electrical infrastructure.

Carvana Vehicle Inspection Facility: A fast-paced, greenfield construction project in Trenton, Ohio, featuring a 350,000-square-foot facility on a 100-acre site.

Swagelok Global Headquarters: A project in Solon, Ohio, involving the demolition of an existing office addition, renovation of 42,000 square feet of existing space, and construction of a new 124,000-square-foot, three-story office and laboratory building.

Bendix North American Headquarters: A 192,000-square-foot facility in Elyria, Ohio, serving as the headquarters for Bendix Commercial Vehicle Systems, including office space and a large research and development lab.

Technological Platform and Innovation

Lake Erie Electric distinguishes itself through:

Proprietary Technologies: The company has invested in specialized skills for network infrastructure, fiber optics, security, access control, CCTV, and audio-visual systems installation.

Scientific Methodologies: Utilizing best-in-class quality and safety management systems to deliver consistent, high-quality results in a timely and safe manner.

Leadership Team

The leadership team at Lake Erie Electric includes:

Peter Corogin: President & Chief Executive Officer

Armando Francisco: Executive Vice President

Dave Ehrman: Chief Financial Officer

Kenneth Beck: Senior Vice President

Ric Bonfiglio: Senior Vice President

James Weaver: Vice President

John Kellamis: Vice President

Michael Lucas: Vice President of Special Projects

This team oversees strategic planning, financial management, and company operations, ensuring expert delivery of electrical construction services and driving growth across various industries.

Leadership Changes

As of August 2022, Armando Francisco serves as Senior Vice President, highlighting the company's focus on internal development and promotion.

Competitor Profile

Market Insights and Dynamics

The electrical contracting industry in the Midwest is competitive, with significant players like FirstEnergy Corp., DTE Electric Company, and Consumers Energy. These companies offer a range of services, including electricity generation, transmission, and distribution, as well as energy management and other related services.

Competitor Analysis

FirstEnergy Corp.: Headquartered in Akron, Ohio, FirstEnergy serves approximately 6 million customers across multiple states, including Ohio and Pennsylvania.

DTE Electric Company: Based in Detroit, Michigan, DTE serves about 2.3 million customers in southeastern Michigan.

Consumers Energy: Headquartered in Jackson, Michigan, Consumers Energy provides natural gas and electricity to 6.7 million residents in Michigan's Lower Peninsula.

Strategic Collaborations and Partnerships

Lake Erie Electric has expanded its services through strategic acquisitions, such as the purchase of Carpenter Electric in 2001, which led to the establishment of a subsidiary corporation in Toledo, Ohio.

Operational Insights

Lake Erie Electric's commitment to exceeding customer expectations and maintaining a safe work environment has been key to its success. The company emphasizes strong communication among employees and fosters a supportive environment, with a significant portion of upper management promoted from within.

Strategic Opportunities and Future Directions

Lake Erie Electric continues to focus on technological advancements and employee development. The company invests in training and tooling to meet the demands of complex systems, positioning itself as a premier provider in the electrical construction industry.