White Wolf Private Credit has provided the financing to back Sundog Capital’s acquisition of the Stryker Electric platform, which is comprised of three electrical contracting businesses: Stryker, Bay Area, and Edge. No financial terms were disclosed. The financing consisted of a senior secured term loan, a preferred equity co-investment and a minority common equity co-investment.
CHICAGO (PRWEB) APRIL 21, 2022
White Wolf Private Credit announced it has supported Sundog Capital (“Sundog”) in the platform acquisition of Stryker. The platform, known as “Stryker Electric”, is initially comprised of three electrical contracting businesses: Stryker, Bay Area, and Edge. White Wolf provided the financing to support the acquisitions, which consisted of a senior secured term loan, a preferred equity co-investment, and a minority common equity co-investment. Details of the transaction were not disclosed.
Based in Palm City, FL, the combined platform represents a highly diversified electrical contracting company in attractive end markets and geographies with strong back-office infrastructure and industry-leading workforce recruiting, training, and retention practices. Scott Eccleston, President of Stryker, will remain as CEO of the Stryker Electric platform.
Scott Eccleston noted, “We are excited to have partnered with White Wolf and Sundog Capital to build a compelling platform in this dynamic industry. As we move ahead with our ambitious growth strategy, we are confident that the White Wolf and Sundog teams will provide the guidance and resources required for success. We look forward to working and growing together.”
Judd Kohn, Managing Director and Head of Enterprise Lending Solutions at White Wolf Private Credit, added, “White Wolf is thrilled to have partnered with Sundog and Scott on this exciting transaction. Under Scott’s leadership, we think Stryker is poised to accomplish great things as it seeks to expand its operations across Florida and the greater Southeast United States.”
Stryker Electrical Contracting, Inc. and affiliates Stryker Electric & Air, Inc., and Diversified Electrical Systems, Inc. (collectively “Stryker”) are leading electrical and specialty services contractors focused on educational, aviation, healthcare, commercial, public use, transportation / DOT, correctional, religion / worship, retail / hospitality, industrial, government / military, and high rises / multifamily projects in the Southeast.
Stryker provides its own in-house design, installation and maintenance of complex electrical power systems, cabling, paging and communication systems, low-voltage solutions, and HVAC services. Stryker is licensed in 5 Southeast states: Florida, Georgia, Alabama, South Carolina and North Carolina.
The Stryker management team have been leaders in the electrical contracting industry for over 40 years.
For further information, please visit: http://www.stryker-electric.com.