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Building, Growing & Selling a Power Solutions Firm with Special Guest, Spencer Wiggins 

Season 2 Episode 10

In this episode of Bundy Group Insights, Managing Director Clint Bundy speaks with longtime client and friend Spencer Wiggins, former majority owner and President of Industrial Electric Machinery (IEM). Spencer shares how he turned a small family business into a regional power solutions leader through modernization, acquisitions, and customer-driven growth. He also opens up about leading his firm through the —a strategic collaboration among IEM, A+ Electric Motors, and Reed Electric—that created a stronger market presence and led to an exceptional sale outcome. The conversation provides rare, firsthand insights into how business owners can create value, align with the right partners, and position for a premium outcome when it's time to sell.

Spencer’s story highlights leadership, resilience, and value creation across the power solutions and broader industrial sectors. The episode provides lessons learned, including how the consortium model provided a competitive advantage and initiatives owners should be taking to best build value in their firm and prepare for a sale. 

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