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Pacific Power & Systems (PPS) acquires Adkins Electric, Inc. ("Adkins")

November 19, 2021 - PPS, a portfolio company of White Wolf Capital (White Wolf) based in Fairfield, CA, is pleased to announce the acquisition of Adkins Electric. The investment in PPS was comprised of senior term debt, preferred equity and a minority common equity co-investment. The additional capital allowed PPS to complete the acquisition of Adkins Electric. Details of the transaction were not disclosed.

Image of Reeves Simmons By Reeves Simmons.
Updated Nov 24, 2021

CHICAGO (PRWEB) November 24, 2021 - Based in Jacksonville, FL, Adkins is a full-service electrical contractor for multi-family, commercial, underground, and traditional electrical projects in Florida and throughout the southeast. The addition of Adkins to PPS platform adds a highly complementary electric contractor which specializes in large multi-family construction projects and traditional commercial work.

Wally Budgell, President and CEO of PPS added, The acquisition of Adkins Electric to our group allows us to extend our service capabilities into Northern Florida and the neighboring states. We are very pleased to be partnered with White Wolf with this, our second acquisition, the White Wolf team has provided us with the strategic support we needed and has quickly become a valued member of our team. We look forward to working with Judd and the White Wolf team as we explore additional growth opportunities in 2022.

Judd Kohn, Managing Director and Head of Enterprise Lending Solutions at White Wolf Private Credit added, The future is bright for PPS with the combination of Adkins. Virgil Adkins and his team in Jacksonville have a long-standing reputation for high quality work, and we look forward to our new partnership with Adkins Electric. We think the combination of PPS and Adkins will create a true leader in the Florida-market for electrical contractors.

About Adkins Adkins Electric is designed to meet the requirements of any electric projects from multi-million-dollar new builds to minor electrical installations and repairs. Adkins Electric utilizes global and local suppliers for its products with each supplier relationship spanning 18+ years or more. State certified since 1981, Adkins Electric is fully licensed, bonded and insured.

About PPS Pacific Power & Systems, Inc. (PPS) is a highly regarded electrical and specialty services contractor focused for more than three decades on public works, industrial, institutional, renewable energy and lease-leaseback projects in the San Francisco Bay Area and beyond. Clients include all levels of government, school districts, property developers, public and privately held corporations, and small businesses. For further information, please visit: http://www.pacificpowersystem.com

About White Wolf White Wolf is a private investment firm that began operations in late 2011 and is focused on management buyouts, recapitalizations and investments in leading middle market companies. White Wolf seeks both private equity and private credit investment opportunities in companies that are headquartered in North America with $20 million to $200 million in revenues and up to $20 million in EBITDA (smaller for add-ons). Preferred industries include manufacturing, business services, information technology, security, aerospace and defense. For further information, please visit: http://www.whitewolfcapital.com