Tiger Infrastructure Partners' Strategic Investment in ELM Utility Services
New York and London - Tiger Infrastructure Partners has announced a groundbreaking growth investment in ELM Utility Services, a frontrunner in outsourced public utility locating services across the country. This investment signifies a transformative step for ELM as it aims to expand its operational capabilities and enhance service delivery.
The Importance of Utility Locating Services
In the United States, underground utility locating is a crucial service mandated by law. Utilities are required to properly map and mark underground infrastructure before excavation activities to prevent damage to critical utility lines. ELM Utility Services plays a pivotal role in satisfying these legal requirements by providing reliable and efficient locating services, thereby elevating safety standards across the industry.
Elaborating on the Investment Impact
Emil Henry, the Founder, CEO, and CIO of Tiger Infrastructure Partners, expressed enthusiasm about this partnership, stating, "ELM is a market leader with a reputation for operational excellence and a critical role in safeguarding the nation's infrastructure. As the underground utility infrastructure expands, we are committed to enhancing ELM's service efficiency and growth potential through our investment." This partnership aims to not only bolster ELM's reach but also improve the overall service quality experienced by utilities nationwide.
ELM's Growth Journey
Throughout its remarkable 25-year journey, ELM has developed a sizable fleet of over 1,400 vehicles, catering to more than 60 utilities across 13 states, particularly in the western and central regions of the country. With the support from Tiger Infrastructure, the company is well-poised to take its operations nationwide, leveraging their extensive experience and resources to fuel expansion.
Elongating ELM's Operational Excellence
Lee Graves, the founder and dedicated owner of ELM Utility Services, noted, "Tiger Infrastructure's investment marks a significant milestone for our company. Their expertise in building middle-market infrastructure businesses will enable us to broaden our asset base and optimize our operations for sustainable long-term growth. We are excited about enhancing our service reputation and continuing to grow with the support of Tiger Infrastructure Partners."
Leadership and Management Stability
Even with the new investment, ELM's leadership remains intact. Mr. Graves retains a substantial equity stake, ensuring that the company's vision and culture remain consistent. CEO Jim Bourazak and President Harley Hartman will continue steering the company, reinforcing the commitment to quality service and sustainable practices.
About Tiger Infrastructure Partners
Tiger Infrastructure Partners is a dynamic private equity firm that specializes in providing growth capital to middle-market infrastructure companies. They focus on strategic investments in sectors like Digital Infrastructure, Energy Transition, and Transportation across North America and Europe. Their approach is grounded in understanding the growing demand for infrastructure and the strong market tailwinds driving the industry forward.
About ELM Utility Services
ELM Utility Services has cemented its reputation as a reliable provider of outsourced utility locating services. The company prioritizes protecting underground infrastructure, ensuring customers receive safe and dependable services while also safeguarding the public from potential damages associated with critical utility systems.
Frequently Asked Questions
What is the focus of Tiger Infrastructure Partners?
Tiger Infrastructure Partners primarily invests in middle-market infrastructure companies, targeting sectors like Digital Infrastructure, Energy Transition, and Transportation.
How will this investment impact ELM Utility Services?
This investment will enable ELM to expand its operations nationally, improve service quality, and enhance its asset base.
What services does ELM Utility Services provide?
ELM specializes in outsourced public utility locating services, essential for preventing damage to underground utility lines before excavation work.
Who will continue to lead ELM Utility Services post-investment?
CEO Jim Bourazak and President Harley Hartman, along with founder Lee Graves, will continue to manage ELM, ensuring consistency in operations and culture.
Why is utility locating important?
Utility locating is crucial for public safety to prevent accidents and damages that can result from unmarked underground utility lines during excavation projects.
