White Wolf Capital announced the recapitalization of Pacific Power & Systems, LLC (PPS), a Fairfield, CA-based electrical and specialty services contractor.
The transaction supported PPS’s acquisition of Millennium Electric, Inc., an Orlando, FL electrical contractor. White Wolf Private Credit provided senior secured term loan financing and minority preferred equity co-investment.
CEO Wally Budgell stated: “This is an exciting time for Pacific Power & Systems, after several years of successful internal growth we are thrilled to have partnered with White Wolf.”
Judd Kohn, Managing Director at White Wolf Private Credit, commented: “We are very excited to partner with Wally and his team at PPS. The strategy Wally has implemented at PPS is impressive.”
PPS is a three-decade-old contractor serving public works, industrial, institutional, and renewable energy sectors across the San Francisco Bay Area, offering electrical power, cabling, fire alarm systems, and other infrastructure services.
Millennium Electric is a Florida corporation established in 1998, specializing in commercial, industrial, residential, and electrical construction services in Central Florida.
White Wolf Private Credit targets investments of $5-$25 million for companies with minimum $10 million revenue and $3 million EBITDA, offering flexible financing structures.