SPATCO ENERGY SOLUTIONS, A KIAN CAPITAL BACKED COMPANY, GAINS MOMENTUM AS A PREMIER EV INFRASTRUCTURE PROVIDER WITH THE ACQUISITION OF STANTON ELECTRIC
CHARLOTTE, N.C., Jan. 2, 2024 /PRNewswire/ -- SPATCO Energy Solutions ("SPATCO"), a forward-thinking provider of infrastructure services and innovative turnkey solutions for petroleum fueling, environmental and EV market segments, completed the acquisition of Stanton Electric, a commercial and industrial electrical contracting provider located in Oakwood, Georgia.
Founded in 2012 by Jerry and Tony Stanton, Stanton Electric specializes in EV car charging station installations in addition to generators and switchgear, Direct Digital Controls (DDC), and network cabling. They are a preferred contractor of the Georgia Power Make Ready Electric Transportation Program, a program that assists in EV infrastructure funding, providing charging options, and makes EV adoption easier for drivers and businesses across the state. Stanton Electric is also heavily involved with the Community EV Charger Program, a focused effort to expand the growth and availability of electric vehicle fast charging stations and infrastructure across Georgia.
"Stanton Electric has been an integral part of establishing sustainable EV infrastructure in the state of Georgia and it is an absolute pleasure to welcome Jerry and his team to the SPATCO family. This addition further confirms SPATCO's investment in providing electrical vehicle infrastructure throughout our geographical footprint," commented John Force, President & CEO of SPATCO.
This marks the second electrical-focused acquisition within mere weeks for SPATCO further solidifying their EV segment presence in the Southeast. This addition of Stanton Electric pushes SPATCO over the 1,000-employee threshold with services in 16 states and over 30 office locations. For over 88 years, SPATCO has led the industry as a distributor of petroleum fueling equipment, installation, maintenance, environmental services, and electrical vehicle segments.
Jerry Stanton commented, "We are pleased to join an organization that aligns with our core values in service and quality. As a member of the SPATCO family, our collective resources will be advantageous in our efforts to continue building sustainable EV infrastructure and providing more opportunities for EV adoption for retail, commercial, and fleet customers." Jerry Stanton, founder of Stanton Electric, will continue to direct electrical contracting operations in the state of Georgia as well as join the executive leadership team at SPATCO.
This investment reflects SPATCO's strategic development and progression as the leader of the turn-key approach to consultation, planning, construction, installation, and 24/7 support in fueling solutions. Kian Capital is SPATCO's lead investor along with co-investors RF Investment Partners, Apogem Capital and New Canaan Funding. Robinson, Bradshaw & Hinson, P.A. acted as Kian's legal advisor, and financing for the transaction was provided by Byline Bank.
SPATCO Energy Solutions is a single-source supplier, installer and maintenance provider of innovative liquid handling equipment for petroleum, industrial, DEF, and Electric Vehicle charging. For over 88 years, SPATCO has been a trusted leader in customer service with their longstanding customer base of national and regional convenience store operators, major oil companies, commercial fleet and military fueling facilities, trucking companies, regional oil jobbers and commercial bulk petroleum plants. SPATCO is headquartered in Charlotte, NC with 30 additional office locations across the Southeast, with service and support extending across the United States. To learn more, visit www.spatco.com.
Kian Capital is a private investment firm with over $800 million of capital under management and over 100 years of collective experience providing capital solutions and board-level strategic and operational guidance to owner operated businesses. Kian cultivates integrity, transparency, and strong work ethic to foster meaningful business relationships to understand the long-term strategic requirements to ignite growth and build enduring value. Kian has offices in Atlanta, GA and Charlotte, NC. To learn more, visit. www.kiancapital.com
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SOURCE SPATCO Energy Solutions
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