Transformative Investment by Tiger Infrastructure Partners
Recently, Tiger Infrastructure Partners made a significant move by investing in ELM Utility Services, a top-tier provider of outsourced public utility locating services in the market. This investment reflects a commitment to support essential infrastructure needs, especially as the demand for utility locating grows across the nation.
Importance of Utility Locating Services
In the United States, utilities are mandated to ensure underground infrastructure is accurately located and marked before any excavation work occurs. This regulation safeguards against damaging crucial utility lines and consequently prevents hazardous situations. ELM Utility Services is uniquely positioned to fulfill this vital requirement, consistently demonstrating its reliability and commitment to excellence in service delivery.
Expertise and Commitment
With a steadfast reputation as a market leader, ELM is recognized for its operational excellence. Emil Henry, Founder and CEO of Tiger Infrastructure Partners, emphasized ELM's critical role in the safeguarding of national infrastructure. He noted, "The underground utility infrastructure is expanding every year, and that shapes the focus of utilities towards enhanced service quality. Our investment aims to support ELM's ambitious growth trajectory."
Growth and Expansion Plans
Over the past quarter-century, ELM Utility Services has expanded its operations significantly. Currently, their fleet, which boasts over 1,400 vehicles, serves more than 60 utility companies across multiple states in the U.S. The investment from Tiger Infrastructure will provide the necessary capital for further national expansion, enabling ELM to better meet the increasing demand for utility locating services.
Milestone for ELM Utility Services
Lee Graves, the founder of ELM, shared his optimistic outlook regarding the partnership with Tiger Infrastructure Partners. He stated, "This investment represents a pivotal moment for ELM. By leveraging Tiger Infrastructure’s experience in growing middle market infrastructure companies, we anticipate substantial improvements in our asset base, workforce capabilities, and overall operational strength for long-term sustainability." This speaks to a future filled with opportunities for growth and increased service quality.
Leadership and Management Structure
As part of this transformative agreement, Lee Graves retains a significant equity stake in the company, ensuring continuity in its leadership. ELM’s current management, led by CEO Jim Bourazak and President Harley Hartman, will maintain their focus on fostering a robust company culture as well as ensuring high service standards have been upheld throughout the past 25 years.
About Tiger Infrastructure Partners
Tiger Infrastructure Partners operates as an innovative private equity firm. Its focus lies on providing crucial growth capital to middle market infrastructure companies. By targeting strategic investments in sectors such as Digital Infrastructure, Energy Transition, and Transportation throughout North America and Europe, Tiger seeks to capitalize on the growing demand for infrastructure development.
About ELM Utility Services
Dedicated to safeguarding underground infrastructure, ELM Utility Services plays an essential role in ensuring public utilities receive the necessary support for reliable and safe operation. Their mission revolves around protecting critical utility systems and safeguarding the public from potential damages, thereby fostering a culture of safety and responsibility in utility management.
Frequently Asked Questions
What is the main focus of Tiger Infrastructure Partners' investment?
Tiger Infrastructure Partners aims to provide growth capital to expand ELM Utility Services nationwide, enhancing its market presence and operational capabilities.
Why are utility locating services essential?
Utility locating services are crucial to avoid damage during excavations, ensuring safety and compliance with regulations that protect underground infrastructures.
How does ELM Utility Services uphold service quality?
ELM is known for its operational excellence and commitment to accuracy, ensuring timely and reliable services to its utility partners across the U.S.
Who leads ELM Utility Services after the investment?
The leadership remains with Jim Bourazak as CEO and Harley Hartman as President, who will continue their established management practices.
What sectors does Tiger Infrastructure Partners target for growth?
Tiger Infrastructure focuses on the Digital Infrastructure, Energy Transition, and Transportation sectors, identifying opportunities driven by increasing demand for new infrastructure.
