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SPATCO Energy Solutions Acquires Hobby Electric to Strengthen Midwest Presence
Slice of Energy Team
October 15, 2024
Key Highlights:
SPATCO acquires Hobby Electric to enhance its Midwest footprint.
Hobby Electric specializes in electrical maintenance, repair, and installation services for EV infrastructure and petroleum fueling.
This acquisition marks SPATCO's third acquisition this quarter, further solidifying its industry leadership.
SPATCO now has over 1,100 employees across 15 states with 36 offices nationwide.
Hobby Electric’s team will leverage SPATCO's resources to drive growth in the Midwest.
Source: PR Newswire
Notable Quotes:
"We are delighted to add Hobby Electric and their exceptional reputation for high-quality service they provide to the fueling and electric vehicle infrastructure sectors."
"Together, we will set new standards for excellence in our industry."
Our Take:
SPATCO's strategic acquisition of Hobby Electric marks a significant move to fortify its presence in the Midwest, particularly in the electric vehicle infrastructure and fueling sectors. With Hobby Electric's established expertise, this acquisition aligns with SPATCO's broader growth strategy of expanding its reach and capacity in key markets. SPATCO’s continued investment in acquisitions, especially in the rapidly growing EV infrastructure sector, highlights its commitment to innovation and maintaining a leadership position in the industry. This move not only enhances operational capacity but also positions SPATCO to meet the increasing demand for advanced electrical solutions in the evolving energy market.