Sier Capital Partners Makes Growth Investment Into US Electric
SEATTLE, November 8, 2022 (Newswire.com) - US Electric is a leading provider of electric repair & maintenance services for marine vessels. The investment was made by an affiliate of Sier Capital Partners and supported by MVB Bank.
US Electric is headquartered in Seattle, WA, and plays a central role in providing customized electrical solutions to cargo, fishing, passenger, navy, cruise ships, and other vessels. The Company acts as a full-service partner for its customers, helping to build custom switch boards and other electrical infrastructure to keep ships in motion. Given the high opportunity cost of commercial vessels lying idle in harbor due to electrical concerns, US Electric acts as a key partner for its customers in providing parts and service. The Company also provides customers immediate services in the event of an emergency, dispatching trained crews to the ship's location. In the specialized industry of marine electrical solutions US Electric brings a hands-on team with deep experience in the field.
Chris Tarrach, CEO of US Electric remarked, "In an increasingly globalized environment that continues to suffer from supply shocks, US Electric's offerings are more crucial to a highly-functioning American economy than ever. The cargo vessels that US Electric keeps moving on key Pacific routes are a crucial part of keeping shelves stocked at home. The fishing vessels provide fish for millions of dinner tables. I'm excited to lead this organization, which has a stellar industry reputation, and to continue to grow the reach of its services. The partnership between US Electric and Sier Capital enables the business to invest on a new level in the resources our clients most need."
Kevin Ramsier, Managing Partner of Sier Capital Partners, commented, "US Electric is a rare business with incredible people. Their passion for their electric work comes from the kind of early curiosity that makes people really great at what they do. Taking that engineering mindset, knowing how every wire connects and its role in the system, is a huge part of what makes the company so effective. Beyond that, their dedication to build a culture of hard work, and customer centric decision making has made US Electric such an impressive business. We are thrilled to partner with them."
About US Electric (https://uselectric.com):
US Electric provides comprehensive electric repair, and maintenance services to marine vessels, with an emphasis on work along the West coast. The Company acts as a mission critical support provider for its customers, with high quality parts and inventory on hand, reducing or eliminating wait times for customers. The Company also provides preventative maintenance services to its customers, which can help ships prepare in advance for the strains of constant ocean voyages, saving times & money in the long run.
For more information about US Electric or Sier Capital Partners, contact Adam Altus.
Source: Sier Capital Partners
