WMP Acquires Enterprise Solutions
White Mountains Partners [WMP] announced that it has acquired a majority interest in Enterprise Electric, LLC d/b/a Enterprise Solutions [Enterprise Solutions], a leading provider of specialty electrical contracting services.
A spokesperson said, “White Mountains Partners [WMP], a White Mountains operating company, announced that it has acquired a majority interest in Enterprise Electric, LLC d/b/a Enterprise Solutions [Enterprise Solutions], a leading provider of specialty electrical contracting services. Founded in 2003 and headquartered in Nashville, Tennessee, the Company designs, engineers, prefabricates, and installs the electrical infrastructure for the built environment serving customers across several commercial and institutional end markets, including healthcare, manufacturing, education, and data centers.”
John Daly, White Mountains Partners’ CEO and Managing Partner, said, “Over its impressive history, Enterprise Solutions has built a strong reputation for innovative solutions and the efficient execution of technically complex and demanding projects. We look forward to partnering with Jim Seabury, Chairman and CEO, and the Company’s senior leadership team and exceptional employees as they continue to deliver outstanding results for their clients. We could not think of a better partner for our inaugural platform company.”
Jim Seabury, Chairman and CEO, commented, “I would like to thank all the Enterprise Solutions employees for their hard work and dedication in helping to build our company into what it has become today. As we pursue our next stage of growth, we are enthusiastic to partner with WMP given its long-term perspective and focus on backing entrepreneurial management teams. With the support of WMP, Enterprise Solutions is poised to accelerate our growth strategy of entering new geographies, expanding into adjacent markets, and executing bolt-on acquisitions.”
Manning Rountree, CEO of White Mountains, said, “I enthusiastically welcome Jim and the Enterprise Solutions team to the White Mountains family. WMP is an important strategy for White Mountains to extend our long-term, value-oriented approach into attractive sectors beyond insurance. I applaud John and the WMP team on their first acquisition. We look forward to more to come.”
The spokesperson said, “Olshan Frome Wolosky LLP acted as legal counsel to WMP. Canaccord Genuity acted as financial advisor and Bradley Arant Boult Cummings LLP acted as legal counsel to Enterprise Solutions.”
