White Mountains Announces Hawkeye Acquisition
White Mountains Partners announced that its portfolio company Enterprise Solutions has acquired Hawkeye Electric, expanding its electrical contracting services into the Arizona market.
A spokesperson said, “White Mountains Partners [WMP], a White Mountains operating company, announced today that its portfolio company, Enterprise Electric, LLC d/b/a Enterprise Solutions [Enterprise Solutions], a provider of specialty electrical contracting services, has acquired Hawkeye Electric, LLC [Hawkeye or the Company]. Founded in 1999 and headquartered in Chandler, Arizona, Hawkeye provides electrical system design, new construction, remodeling, and maintenance services for commercial and institutional properties. Hawkeye is led by Pat Tilton [Founder & CEO], Pete Trowbridge [President], and Mark Shaw [Vice President].”
Jim Seabury, Co-Founder, Chairman, and CEO of Enterprise Solutions, commented, “With Pat, Pete, and Mark remaining focused on Hawkeye’s day-to-day operations post-closing, the Company will continue to serve its customers with a hands-on approach, but now with the added support and resources of Enterprise Solutions. The acquisition facilitates our expansion into the attractive Arizona market, one of the fastest growing geographies within the electrical contracting industry. We are eager to partner with the talented team at Hawkeye and believe our collective employees, customers, and suppliers will benefit significantly from the combination.”
Pat Tilton added, “There is a strong strategic and cultural fit between our companies. The transaction unites two organizations with a shared dedication to technical excellence and a deep-rooted commitment to the people who power our success. This partnership will provide exciting options for Hawkeye’s employees as we collaborate with Enterprise Solutions to pursue and execute a diverse range of projects. In 2019, Hawkeye transitioned to a 100% Employee Stock Ownership Plan. The transaction with Enterprise Solutions is designed to not only enhance our combined service capabilities, but also to preserve and elevate the indispensable culture built by Hawkeye’s employee-owners.”
John Daly, WMP’s CEO and Managing Partner, stated, “The acquisition meaningfully expands Enterprise Solutions’ presence into a key target market. As a long-term capital partner, WMP looks forward to supporting Enterprise Solutions and Hawkeye as they embark on their next stage of growth together.”
The spokesperson said, “FMI Capital Advisors, Inc. acted as financial advisor and Morgan, Lewis & Bockius LLP acted as legal counsel to Enterprise Solutions. RBG Capital LLC acted as financial advisor and Lynch, Cox, Gilman & Goodman, PSC, acted as legal counsel to Hawkeye.”
