Truelink Capital announced it has signed a definitive agreement to make a significant investment in Prime Electric, a Bellevue, Washington-based provider of electrical system repair, installation and maintenance services. Financial terms were not disclosed.
Prime Electric primarily serves private-sector customers across a mix of end markets that include healthcare, biopharma, data centers and renewable energy. The company, founded in 1987, has a footprint across Northern California, Washington and Oregon and employs about 1,500 people across a network of field offices, according to the announcement.
Under the deal, Prime’s management team—led by CEO Bob Ledford and Chairman Eric Reichanadter—will continue to run the business. Truelink said management, together with existing investor WestView Capital, will retain a significant ownership stake.
Truelink positioned Prime as a platform for building a scaled national electrical services provider, citing ongoing electrification trends and the company’s relationships with regional and national general contractors. The transaction marks Truelink’s 11th platform investment since the firm’s founding in 2022.
KEY QUOTES:
“We are excited to partner with Bob Ledford and the entire Prime Electric management team.” “Prime Electric’s exposure to high-growth sectors and its proven track record make it an ideal platform for our ambition to create a scaled national leader in electrical services. Together, we plan to accelerate Prime’s growth and build a best-in-class organization that delivers exceptional value to customers across the country.”
Luke Myers, Co-Founder and Managing Partner, Truelink Capital
“Truelink shares our vision for growth and our commitment to reliability and technical expertise.” “With their support, we are well-positioned to capitalize on the significant tailwinds in our market and continue expanding our capabilities to serve our clients in healthcare, biopharma, data centers, renewables, and beyond.”
Bob Ledford, CEO, Prime Electric
