"I'm guessing that the business wasn't profitable enough to be sold as a whole business"
Common thing for small electrical contracting shops, most likely run like a job for years, great at electrical, but missing out on building something for himself, i have see a good amount of small Plumbing and HVAC business go for six figures plus at retirement, and a larger percent of electrical ones lucky to get a few thousand at auction or yard sale, the good news is, the younger EC's comming up plan better, and operate it like a business.
