Megen Construction Company and Parks Electric Join Forces Aided by Chamber’s Accelerator
Accelerator points to future joint ventures and partnerships as a critical growth strategy
CINCINNATI — November 22, 2019 – Ben D. Parks, Jr., and CLEN, LLC joined forces through a partnership agreement for Parks Electrical Services, LLC, a partnership brought together by the Cincinnati USA Regional Chamber’s Minority Business Accelerator. Ben Parks is President and majority owner of Parks Electrical Services, LLC, a Minority Business Enterprise certified by the Ohio Minority Supplier Development Council (OMSDC). CLEN, LLC is solely owned by Evans Nwankwo, who also is the president and CEO of Megen Construction Company.
“This partnership represents a significant strategic step forward for both organizations to capture critical economies of scale and expanded service capabilities, while also serving as a terrific model that we hope inspires similar collaborations among minority business owners going forward,” said Darrin Redus, vice president and executive director of the Minority Business Accelerator. “This transaction also puts on full display the tremendous talents of the Accelerator team – particularly Thomas Fernandez and Micah Dickson in this case, who both worked tirelessly to see this important relationship come to fruition.”
Parks Electrical Services, LLC, is an Ohio based minority owned and managed electrical contractor founded by Master Electrician, Ben Parks, Jr., who has over 25 years of experience. Located in Sharonville, Ohio, Parks Electrical Services is a full-service electrical contractor providing electrical construction and design services to commercial and industrial markets, as well as preventative and repair services for a long list of repeat clients in the Cincinnati area. Ben Parks combined forces with Evans Nwankwo, owner of Megen Construction Company which just celebrated 25 years in business, to build a strong management infrastructure and corporate capabilities to elevate Parks Electrical Services to serve repeat and new clients in the Tri-State area.
“This partnership will enable Parks Electrical Services to serve and grow with the Cincinnati community’s commercial, healthcare, government/institutional, industrial and multi-family residential customers,” according to Ben Parks.
“Megen Construction will provide critical back office support for Parks Electrical Services, which helps both firms provide value to our customers,” said Evans Nwankwo.
“We expect more acquisition and partnership announcements in the future, and we invite businesses to contact the Accelerator to assist with succession planning to help create new minority owned businesses,” said Micah Dickson, senior business advisor with the Minority Business Accelerator.
About the Cincinnati USA Regional Chamber
The Cincinnati USA Regional Chamber grows the vibrancy and economic prosperity of the Cincinnati region. It does this by serving as a bold voice for the interests of its 4,000-member businesses and their more than 300,000 employees. The Chamber is committed to expanding the region's talent base by attracting new residents and finding new ways to connect employers to skilled workers. And, by harnessing the power of Cincinnati USA’s unique offerings, implementing regional vision, and through intentional inclusion in everything we do, the Chamber is on a path to help transform this region into the hottest city in America. For more information, visit www.cincinnatichamber.com
About the Minority Business Accelerator
The Minority Business Accelerator (“The Accelerator”) is the flagship minority business and economic inclusion initiative of the Cincinnati USA Regional Chamber. Its mission is to accelerate the development of sizable minority businesses and strengthen and expand the regional minority entrepreneurial community. The Accelerator is committed to increasing regional minority business spending to over $2 Billion and the creation of 7,000 new jobs by year-end 2022. A “4 Pillar” strategy is utilized to accomplish these bold goals which includes growing the existing base of large-scale firms; creating a robust pipeline of emerging businesses; attracting targeted larger scale firms to the region; and creating new firms through the acquisition of existing mainstream businesses with no identified succession plan. For more information, visit www.minoritybusinessaccelerator.com.