Lead Edge Capital backs electrical distributor Elektrik
The Salt Lake City-based company serves many of the top 50 EPCs and top 20 electrical distributors, supplying medium and high voltage components for data center, renewable energy, and utility infrastructure.
Takeaways
- Elektrik is a tech-enabled distributor of electrical transmission and distribution components.
- Lead Edge Capital is acquiring Elektrik.
- The target serves Data centers, renewable energy, utility, commercial and industrial infrastructure across North America.
Lead Edge Capital has made a growth investment in Elektrik, a Salt Lake City-based tech-enabled distributor of electrical transmission and distribution components.
Elektrik serves a majority of the top 50 engineering, procurement, and construction firms in North America and the top 20 electrical distributors, helping them source, quote, and kit medium and high voltage components.
Its customers span data centers, renewable energy, utility, and commercial and industrial infrastructure projects.
Lead Edge Capital, a growth equity firm with a portfolio of technology and software companies, will use the funding to scale Elektrik's procurement platform as demand for electrical infrastructure components surges.
Foley & Lardner provided legal counsel to Elektrik on the transaction.
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