The Retrofit Companies

What The Retrofit Companies does

The Retrofit Companies, Inc. is a privately held, woman-owned small business founded in 1992 and headquartered in Owatonna, Minnesota, operating through two core divisions. Retrofit Electric provides full-service commercial and industrial electrical contracting — preconstruction, new construction, remodel/renovation, service and maintenance, thermal imaging, lighting and controls (including color-tunable LED), EV charging, and specialized work for cannabis cultivation facilities — primarily serving the Twin Cities and Southern Minnesota. Retrofit Environmental is a licensed regulated waste transporter and CHWMEG-reviewed 10-day transfer facility operating across nine Midwestern states (MN, ND, SD, NE, IA, KS, MO, WI, IL), offering universal waste, battery, e-waste, chemical, mercury, and solar panel recycling, plus walk-in drop-off, route-based collection, and community collection events for municipalities and businesses.

The underlying technology stack is services-based rather than software-based: proprietary lighting energy study deliverables (kW/kWh analysis, photometric layouts, utility rebate analysis, cost-of-ownership reporting), LED solution evaluation, color-tunable smart lighting, and a state-approved registered apprenticeship program (ETN of Minnesota, Minnesota Electrical Association) producing a steady pipeline of licensed electricians. The business model is hybrid: project-based, quote-priced electrical contracts for commercial/industrial/retail customers, combined with transaction-fee regulated waste disposal for businesses plus consumer-facing walk-in and collection-event revenue. Customer segments span education, manufacturing, healthcare, municipalities, property managers, contractors, and emerging cannabis growers, with documented outcomes such as a 58% annual energy cost reduction for ISD #299 Caledonia Public Schools and 130 consecutive workdays with zero safety incidents at Retrofit Electric. Certifications include WBENC, DBE, and Targeted Group, with safety staff holding OSHA 24/40 HAZWOPER, OSHA 30, EPA 608 Universal, and OSHA First Aid/CPR/AED credentials.

Name

The Retrofit Companies

Legal name

The Retrofit Companies, Inc.

Website

https://retrofitcompanies.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

101–250 employees

Short description

The Retrofit Companies is a woman-owned Midwestern firm operating two divisions: Retrofit Electric delivers full-service commercial and industrial electrical contracting, while Retrofit Environmental provides licensed regulated waste hauling and recycling across nine Midwestern states.

Ownership category

akta.pro rank

Product category

Commercial Electrical Contracting and Regulated Waste Disposal Services

NAICS

Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance (8113), Hazardous Waste Collection (562112), Remediation Services (562910), All Other Waste Management Services (56299)

SIC

Electrical Work (1731), Services-Miscellaneous Repair Services (7600)

akta.pro primary industry

Energy Efficiency & Weatherization Retrofit (HSAPAEAF)

akta.pro secondary industries

Controls, Instrumentation & DCS/SCADA Retrofits (Plant & Grid) (EUAEALAB), Circularity, Refurbishment & Resale (Used Modules/Turbines/Components) (EUAMALAK), Compliance, Safety & Code-Driven Retrofit Programs (NERC CIP, arc-flash, OSHA) (EUAEALAO)

Keywords

• Commercial electrical contracting
• LED lighting retrofit
• Regulated waste disposal
• Electronics recycling services
• Hazardous waste transportation

Headquarters

HQ city

Owatonna

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Electrical Contracting Services: Full-service commercial and industrial electrical contractor providing new construction, remodel and renovation, service and maintenance, thermal imaging, lighting and controls, and EV charging services.
2. Regulated Waste Disposal Services: Collection and disposal of universal waste, batteries, electronics/e-waste, chemicals, solar panels, and other regulated waste materials for businesses.
3. Walk-In Recycling Services: Drop-off recycling services at company facility accepting fluorescent lamps, TVs, electronics, batteries, solar panels, appliances, mercury devices, and aerosols.
4. Collection Events: Community recycling collection events accepting lamps, ballasts, batteries, e-waste, appliances, mercury devices, tires, and household hazardous waste.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

The Retrofit Companies is a Woman-Owned Small Business that delivers full-service commercial and industrial electrical contracting through Retrofit Electric (new construction, remodel and renovation, service and maintenance, thermal imaging, LED lighting and controls, EV charging, lighting energy studies) and regulated waste disposal services through Retrofit Environmental (universal waste, battery recycling, electronics/e-waste recycling, chemical waste disposal, mercury recycling, solar panel recycling, tank cleaning, business closure services, walk-in recycling, and community collection events). Both divisions serve commercial, industrial, retail, municipal, and educational customers across the Upper Midwest, with environmental services licensed across 9 Midwestern states.

Product overview

The Retrofit Companies, Inc. is a Woman-Owned Small Business operating two distinct divisions. Retrofit Electric provides full-service commercial and industrial electrical contracting services including preconstruction, new construction, remodel & renovation, service & maintenance, thermal imaging, lighting & controls, EV charging, and safety services. Retrofit Environmental provides regulated waste disposal services including universal waste, battery recycling, electronics/e-waste recycling, chemical waste disposal, collection events, business closure services, tank cleaning, landfill alternatives/waste-to-energy, solar panel recycling, walk-in recycling, and mercury recycling. Both divisions operate from locations in Owatonna and Little Canada, MN, serving the Midwest region.

Differentiator

Problem solved

Functional benefit

Products and services

• Retrofit Electric - Full-Service Commercial and Industrial Electrical Contracting Full-service commercial and industrial electrical contractor providing preconstruction, new construction, remodel and renovation, service and maintenance, and specialized electrical services. Targets commercial, industrial, and retail customers in the Twin Cities and Southern Minnesota.
• Lighting Energy Study Comprehensive assessment of current lighting systems identifying upgraded and non-upgraded areas, with deliverables including kW/kWh analysis, lighting controls savings data, savings summary, cost of ownership report, utility rebate analysis, catalog of existing technology, and photometric layouts.
• Preconstruction Electrical Services Electrical planning and design services delivered during the preconstruction phase of commercial and industrial construction projects.
• New Construction Electrical Services Full electrical installation services for new commercial and industrial construction projects.
• Remodel and Renovation Electrical Services Electrical upgrade and renovation services for existing commercial and industrial facilities.
• Service and Maintenance Electrical Services Ongoing electrical service and maintenance support for commercial and industrial facilities.
• Thermal Imaging (Infrared Thermography) Inspections Infrared inspection services used to identify electrical issues, energy losses, and preventive maintenance needs in commercial and industrial facilities.
• Lighting and Controls LED lighting upgrades and advanced lighting control systems including color tunable lighting solutions for various applications.
• EV Charging Station Installation Electric vehicle charging station installation services for commercial and industrial facilities.
• Retrofit Environmental - Regulated Waste Disposal Services Regulated waste disposal services contractor providing pickup, transportation, and proper disposal or recycling of various waste types for commercial, industrial, municipal, and educational customers. Licensed hazardous waste transporter in 9 Midwestern states.
• Universal Waste Services Management and recycling of universal waste including batteries, lamps, mercury-containing equipment, pesticides, and aerosol cans under streamlined EPA regulations.
• Battery Recycling Responsible recycling of various battery types including alkaline, lithium-ion, lead-acid, and nickel-cadmium batteries, including handling of damaged, defective, and recalled (DDR) lithium batteries.
• Electronics/E-Waste Recycling Safe and secure e-waste recycling program protecting data and the environment, including CRT glass recycling, end-of-life destruction, and compliance documentation.
• Chemical Waste Disposal Identification, transportation, and disposal of expired, unwanted, or unidentified chemical waste. Includes on-site preparation services and remediation during facility renovations.
• Collection Events Community recycling collection events across Minnesota, Iowa, and Nebraska accepting lamps, ballasts, batteries, e-waste, appliances, mercury devices, tires, and household hazardous waste.
• Business Closure Services Comprehensive waste removal and cleaning services for business closures and relocations. Includes identification and removal of regulated and hazardous waste, tank cleaning, and pit/sump services.
• Tank Cleaning and Maintenance Cleaning and maintenance services for storage tanks (neutralization, holding) and trap systems. Includes tank decommissioning and removal services ranging from 100 gallons to 1 million gallons.
• Landfill Alternatives / Waste-to-Energy Alternatives to landfilling including waste-to-energy burning, re-blending food wastes into livestock feed, and digesting waste to create alternative fuels.
• Solar Panel Recycling Certified recycling program for solar panels including monocrystalline, polycrystalline, and thin-film types. Features zero-landfill circular processing with materials repurposed for road beads, fiberglass, abrasives, float glass, paint filler, and container glass.
• Walk-In Recycling Services Drop-off recycling services at the Little Canada facility accepting fluorescent lamps, TVs, computers, batteries, solar panels, appliances, mercury devices, aerosols, and exercise equipment.
• Mercury Recycling Safe recycling of mercury-containing devices and debris. Process recovers up to 99% of mercury for reuse in industrial applications.

Quantifiable outcome

• 58% annual energy cost reduction
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Xcel EnergycoreGTM or Marketing Partner · 20 September 2024TRC earned Xcel Energy's 2024 Trade Partner Energy Efficiency Award for helping facility managers achieve energy savings through LED lighting and controls solutions. Xcel Energy offers competitive rebates to offset implementation costs.
• ETN of Minnesota (Electrical Training Network)coreStrategic or Co-development PartnerTRC partners with ETN of MN for registered apprenticeship program providing state-approved training for electricians. Program combines on-the-job learning with classroom instruction including 2,000+ hours of training and 144 hours of related instruction per year.
• Minnesota Electrical Association (MEA)coreStrategic or Co-development PartnerLong-standing partnership with MEA for training, compliance, and industry support. MEA apprenticeship program is used as a benchmark for commitment and professionalism at TRC.
• Minnesota Center for Energy and Environment (CEE)minorGTM or Marketing PartnerCEE offers commercial incentive programs for LED grow lights, specifically supporting small to mid-sized businesses in Xcel Energy territory with canopies under 8,000 square feet.
• Veolia ESminorStrategic or Co-development PartnerTRC partners with Veolia ES for mercury recycling process. Veolia provides collection, sorting, extraction, purification, and reuse services for mercury-containing products.
• ISO 14001 & SEIA Approved Solar RecyclerminorImplementation/ SI/ Consulting PartnerTRC partners with ISO 14001 and SEIA approved solar module recycler for zero-landfill processing of end-of-life solar panels.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• IES Holdings: Multi-division electrical and mechanical services provider offering commercial/industrial electrical contracting alongside lighting retrofit and energy services. Closely matches TRC's bundled electrical + energy efficiency value proposition for similar customer segments.
• Lighting Maintenance Inc. (LMI): National lighting services provider specializing in LED retrofits, relamping programs, and ongoing lighting maintenance for commercial and industrial facilities. Closely matches Retrofit Electric's lighting-focused value proposition and recurring service model.
• Cleanlites Recycling: Midwest-based lamp, ballast, and e-waste recycling company with a comparable service portfolio (universal waste, batteries, electronics). Direct overlap with Retrofit Environmental's lamp/battery/e-waste recycling customer base and route-based service model.

Broad incumbents

• Stericycle: National regulated waste disposal company specializing in hazardous and medical waste with multi-state compliance operations. Direct overlap with Retrofit Environmental in regulated waste, universal waste, and compliance-driven customer relationships.
• Republic Services: One of the largest U.S. waste management companies with regulated waste, recycling, and environmental services operations. Comparable in environmental services scope and customer base, though Republic operates at vastly greater scale and breadth.
• Faith Technologies: Large national electrical contractor with significant lighting/energy services and prefab manufacturing capabilities. Comparable as a scaled electrical services provider that bundles new construction, energy retrofits, and ongoing service work for commercial and industrial customers.
• Veolia Environmental Services: Global waste management and environmental services firm, already a partner with TRC for mercury recycling. Comparable as a licensed hazardous waste handler with multi-state compliance infrastructure, though at vastly greater scale and breadth.

Emerging players

• ChargePoint: Leading EV charging network operator whose installation services are increasingly delivered through regional electrical contractors. Comparable in EV charging infrastructure deployment, though ChargePoint is a technology/network company while TRC is the installation partner.
• Cascades Recovery Plus: Materials recovery and recycling operator with growing presence in e-waste, lamp recycling, and regulated waste streams in North America. Comparable scope in universal waste and electronics recycling, with growing geographic overlap in the Midwest.

Regional players

• Lemberg Electric: Wisconsin-based commercial and industrial electrical contractor offering similar lighting retrofit, new construction, and service work. Comparable as a Midwest regional electrical contractor serving similar commercial/industrial customer profiles, though without the environmental services bundle.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/theretrofitco
• Facebookfacebook.com/theretrofitco
• LinkedInlinkedin.com/company/the-retrofit-companies

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Retrofit Companies