BayHawk Capital has invested in Gridco, partnering with the company’s founding management team to accelerate expansion across the electric utility services market.
The founders will remain majority shareholders and continue to lead the business. The investment, made through BayHawk Fund I, is intended to fund both organic initiatives and strategic acquisitions as Gridco seeks to broaden its service capabilities and geographic reach. Jeffrey Schmidt, a former executive at MasTec and Quanta, has joined Gridco’s board of directors as part of the transaction. Financial terms of the investment were not disclosed.
Gridco provides distribution, transmission and substation repair and maintenance services to investor-owned, cooperative and municipal electric utilities across the southeastern United States. The company employs more than 350 skilled professionals and focuses on maintaining and upgrading critical electric infrastructure to enhance grid safety, reliability, and efficiency.