Tampa, Florida – May 10, 2021 – Hyde Park Capital Advisors, LLC is pleased to announce Electric Supply of Tampa (“Electric Supply” or “ESI”), the largest independent value-added distributor of electrical supplies headquartered in Florida, has partnered with Supply Chain Equity Partners (“SCEP”) to establish a super-regional platform for growth and expansion in electrical products distribution. Hyde Park Capital served as the exclusive investment banker to Electric Supply of Tampa.
“Electric Supply was founded in 1970 by my father, George Adams Sr., and over the past 51 years we have continuously grown by providing our customers with consistent and flexible solutions, exceptional service, extensive technical and product support, a deep inventory for one-stop-shopping, and numerous logistical options, backed by an experienced and energic team,” said George Adams Jr., Chairman of the Board. George added “I spent over a year searching for the best investment group to help Electric Supply accelerate its growth to be an even stronger partner to its customers and vendors. SCEP is unique in that they are the only private equity firm in the United States that invests exclusively in distribution companies, and the majority of their investors are former owners of distribution companies that include a number of electrical wholesalers. They have an almost two decades-long history of successfully partnering with distributors like Electric Supply and we are already planning a number of growth initiatives through opening new branch locations, hiring more salespeople and partnering with like-minded distributors.” The Adams family remains a major investor in Electric Supply and George will remain on the Board of Directors.
Harry Irwin, CEO, and the rest of the existing ESI management team will continue to lead ESI. “We are extremely excited about having more capital and resources to support greater growth which will also provide enhanced career opportunities for the existing Electric Supply team,” stated Mr. Irwin. “Electric Supply is now uniquely positioned to capitalize on numerous growth opportunities focused on better serving our customers and vendors.”
John McDonald, Senior Managing Director of Hyde Park Capital, stated “We are very pleased to have had the privilege of advising ESI in its partnership with SCEP. The headquarters locations for both ESI and SCEP being in Tampa was quite a coincidence and makes the partnership that much more of a fit. With SCEP’s laser focus on distribution and their tremendous track record of success partnering with distribution companies over a long period of time, we feel convinced that we could not have found a better partner. We look forward staying in close contact with the company and its new partner and hope to have the opportunity to advise them again in the future.”
Jay Greyson, a founding Partner of Supply Chain Equity Partners, said “We were extremely excited when Hyde Park Capital reached out to us about this opportunity. We have admired the Adams and Brock families and the Electric Supply team for many years now and are looking forward to helping them grow through our new partnership. Hyde Park did a great job keeping the transaction on track and focused. We are glad they were Electric Supply’s advisors and helped us complete the process in a timely and efficient manner.”
About Electric Supply of Tampa
ESI is Florida’s largest independent electrical and voice data video distributor. ESI serves both domestic and international electrical contractors, utility companies, industrial facilities, institutions, and low voltage installers throughout Florida as well as the Caribbean and Latin America. Electric Supply is the largest independent value-added distributor of electrical supplies headquartered in Florida and is three times the size of the next-largest independent electrical supplies distributor in the state. With over 400,000 square feet of inventory storage, ESI has the products you need when you need them. For additional information, please visit www.electricsupplyinc.com.
About Supply Chain Equity Partners
Based in Tampa, FL, Supply Chain Equity Partners is the only committed-capital private equity firm in the United States that invests exclusively in the distribution and logistics space. Founded and backed by distribution industry veterans, including several former owners of electrical wholesalers, SCEP works to help build and support industry-leading distribution companies. For additional information, please visit www.supplychainequity.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused investment banking firm specializing in mergers and acquisitions and serving the corporate finance needs of middle market public and private companies. Its principals have extensive investment banking experience executing merger and acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital and acquisition financing for companies, including equity, mezzanine, and senior debt. Hyde Park’s bankers have significant experience in the industrials sector. Hyde Park Capital is headquartered in Tampa, Florida and is a member of FINRA and SIPC. For additional information, please visit www.hydeparkcapital.com.
