NOVEMBER 18, 2024 – Yellow Point Equity Partners IV LP (“Fund IV”) is pleased to announce the successful exit of its investment in The State Group (the “Company”). On November 18, Fund IV sold its investment in The State Group to Apollo, a global investment manager, and retained a small minority equity position in the Company.
The State Group is a leading North American multi-trade industrial contractor specializing in electrical services. Since Yellow Point’s investment in 2018, the Company has sharpened its focus on high-growth end markets supported by long-term secular tailwinds, including data centres, electric vehicle infrastructure, and power distribution. During this period, The State Group completed six U.S. based add-on acquisitions, significantly expanding its geographic footprint, enhancing its capabilities, and further strengthening its competitive position.
Brad Hill, Partner of Yellow Point said, “We are pleased to have supported The State Group during a period of significant growth and strategic progress for the business. The Company has built strong positions in attractive end markets, and we believe it is well positioned for continued success.”
About Yellow Point
Yellow Point Equity Partners has been actively helping its management partners build better businesses for over 20 years. The firm invests in outstanding management teams of later-stage growth companies based primarily in Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies.