Dunes Point Enters Electrical Supply Distribution Sector
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Dunes Point Enters Electrical Supply Distribution Sector

Dunes Point’s invested in Warshaw through its third fund which is targeting $775 million in capital and a fourth quarter final close

Warshaw has an extensive catalog of products ranging from simple electrical boxes, covers and conduit to sophisticated cords, cabling, lighting and wiring.

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Dunes Point Capital has acquired Warshaw Supply, a supplier of electrical products used in the commercial and multi-family end markets.

Warshaw has an extensive catalog of products ranging from simple electrical boxes, covers and conduit to sophisticated cords, cabling, lighting and wiring. According to Warshaw, almost every electrical distributor in its territory purchases one or more of its products. Warshaw maintains several in-house brands including South Conduit, Global Manufacturing, Aly Cable and Nav-Tech.

Customers of Warshaw include electrical wholesale distributors, engineering contractors, export houses, and government agencies such as Consolidated Edison Company of New York, Public Service Gas and Electric of New Jersey, General Public Utilities, Niagara Mohawk, Metropolitan Transit Authority, and the Port Authority of New York and New Jersey.

Warshaw was founded in 1983 by Bob Warshaw and today has 80 employees at two facilities; a 100,000 square foot headquarters located in Ridgewood, New York (Queens), and a 45,000 square foot facility in Piscataway, New Jersey.

Dunes Point is a family office and private investment firm that makes control investments in companies operating in the general industrial and business services sectors that have EBITDA from $10 million to $75 million and enterprise values of up to $1 billion. The firm was founded in 2013 by Timothy White, a former senior managing director of credit-focused hedge fund GSO Capital which was acquired in 2008 by Blackstone.

Dunes Point’s invested in Warshaw through its third fund, Dunes Point Capital Fund III LP, which is targeting $775 million in capital and is expected to have a final close during the fourth quarter.

Debt financing for the buy of Warshaw was provided by M&T Bank. Ridge Advisory was the financial advisor to Warshaw and Dunes Point was advised by the transaction advisory group of Alvarez & Marsal.

© 2023 Private Equity Professional | September 14, 2023

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