Intrepid Advises ELM on its Growth Financing from WhiteHorse Capital

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Intrepid Investment Bankers, a leading middle-market investment bank and the advisory arm of MUFG, a global financial group, announced today that it acted as the exclusive financial advisor to a division of ELM Companies (“ELM”) on its growth financing from WhiteHorse Capital (“WhiteHorse”). Headquartered in Peoria, Illinois, ELM provides comprehensive utility infrastructure management solutions that assure compliance with regulations, improve grid reliability, and streamline distribution.


ELM Companies: a Quarter Century of Innovation

Started in 1998 by Lee C. Graves, ELM has continuously built innovative technology solutions through direct utilities experience and understanding, and currently operates four business units:

  • ELM Utility Services: 1400+ fleet servicing over 3,000,000 tickets per year across the U.S. utility industry. Long the cornerstone of ELM Companies, ELM Utility Services is a trusted name in underground utility damage prevention.
  • ELM LaunchPoint: Precise, cloud-based utility mapping that provides instant access to clients’ infrastructure data.
  • ELM MicroGrid: Battery energy storage systems implemented for utility companies, the U.S. Military, and large enterprises.
  • ELM Solar: Manufactures and distributes Naked Energy’s technology that offers the world’s highest energy density solar equipment available on the market


The Next Chapter

This partnership with WhiteHorse provides institutional resources to support ELM Utility Services and to accelerate the growth of the broader ELM platform, including ELM’s rapidly-growing MicroGrid division. ELM is well-positioned to capitalize on several near-term opportunities including new product development, deeper penetration across all channels, and geographic expansion.

Tombstone ELM
From the Client

“The Intrepid team was nothing short of exceptional from start to finish,” said Mr. Graves, Founder and Chairman of ELM. “Their professionalism, expertise in the utility sector, and thorough understanding of the credit markets ensured a very smooth transaction. We’re excited to partner with WhiteHorse to further enhance ELM’s position in a highly attractive segment of the utility market.”


The Bottom Line

Intrepid’s Capital Advisory and Industrials & Business Services teams worked jointly to deliver an optimal solution for ELM – both in terms of structure and institutional partnership. “Our mission was to run hard and fast, and it was only possible through seamless integration of industry and product teams” said Jonathan Zucker, Head of Capital Advisory at Intrepid. “The Industrials & Business Services team has a deep knowledge of ELM’s sector, and together with the Capital Advisory practice, Intrepid provided a fully integrated service offering to our client.”

Deal Team Contacts

Jonathan Zucker, Managing Director – Head of Capital Advisory

Boris Zikratov, Director – Capital Advisory

Asher Safvi, Director – Industrials & Business Services

 

Media Contact

Mike Monroe, Head of Marketing 

About Intrepid’s Capital Advisory Team

Intrepid’s Capital Advisory Group enables founders, management teams, and financial sponsors to access institutional capital across all forms of debt and equity to execute mission-critical transactions. We are experts at solving complex capital structure needs for our clients, and have global access to capital sources including banks, direct lenders, hedge funds, family offices, and private equity institutions.