PE Deals

Hull Street-backed SunGrid buys electrical services contractor RA Electric

Based in Cambridge, Ontario, SunGrid is a provider of energy equipment and solutions.

-
  • RA Electric is an electrical services contractor specializing in numerous aspects of construction
  • The acquisition will enable SunGrid to provide services to projects scaling from 1 megawatt to 1 gigawatt in support of California’s decarbonization and energy storage goals
  • Hull Street Energy is a US private equity firm that specializes in deploying capital into the power sector as it decarbonizes

SunGrid, which is backed by Hull Street Energy, has acquired Northridge, California-based RA Electric, an electrical services contractor specializing in numerous aspects of construction. No financial terms were disclosed.

Based in Cambridge, Ontario, SunGrid is a provider of energy equipment and solutions. SunGrid’s US headquarters is in Houston.

The acquisition will enable SunGrid to provide services to projects scaling from 1 megawatt to 1 gigawatt in support of California’s decarbonization and energy storage goals to expand renewable energy, reduce carbon emissions and bolster electric reliability across the state.

“SunGrid is excited to continue our growth through the acquisition of RA Electric,” said Jeremy Goertz, co-founder and CEO of SunGrid Solutions, in a statement. “This partnership brings direct electrical strength to SunGrid’s already strong California-based Battery Energy Storage Solution Construction team. As an EPIC (Engineer Procure Integrate Construct) company SunGrid is leading the way with best-in-class services in North America and Globally within the BESS industry. RA Electric brings enhanced construction capability specifically focused on Medium Voltage, Low Voltage, and Infrastructure based projects. Located just outside Los Angeles, RA Electric will have an immediate impact on SunGrid projects currently underway in California.”

Based in Bethesda, Maryland, Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes.

Jon Staley’s law office acted as legal counsel to SunGrid.