GROVE, OK / ACCESSWIRE / November 1, 2024 / Raven Resources Corp. has successfully acquired Grove Electric & Lighting Supply from its owner, Caisha Wholesale Electric. This acquisition marks a significant milestone for Grove Electric, promising a seamless transition and continued commitment to its valued customers and vendors.
Jerry Smith, the retiring owner of Grove Electric, expressed his confidence and excitement about the future of the company under new ownership, prior to his recent passing. "Grove Electric has thrived under my leadership, and I am thrilled to see it continue to grow under the guidance of Raven Resources. Paul Scribner and the Raven team have my complete support. Their commitment to excellence and customer service aligns perfectly with our values. I am confident that Grove Electric will continue to thrive and expand its legacy of outstanding service," said Jerry Smith.
Paul Scribner, CEO of Raven Resources Corp., shared his enthusiasm about the acquisition. "We are excited to welcome Grove Electric & Lighting Supply to the Raven Resources family. The team at Raven Resources Corp., led by officers Jamie Moss and Steve Kelly, has worked diligently to ensure a smooth transition. We are confident that under our stewardship, and with Tim Williams continuing as manager, Grove Electric will continue to deliver exceptional service and innovative products to its customers."
Raven Resources Corp. dedicates itself to unlocking the potential of strategic investments. With a focus on seizing opportunities and reacting to events, Raven Resources actively participates in the growth of its portfolio companies by providing back-office administration, financial direction, management consulting, corporate governance, and brand strategy.
Chuck Woolley at Kingsley Group provided sell-side brokerage services to the seller. Derek R. Staub at Frost Brown & Todd and Mike Nichols at Spencer Fane provided legal services to Raven Resources Corp. Logan Hathcoat at Hathcoat Wade provided legal services to Caisha Wholesale Electric. Amanda Kastler, CPA at Elliott Robinson & Co. CPAs provided tax and structural advice to Raven Resources Corp. OakStar Bank provided financing to Raven Resources Corp. for the purchase.
The financial terms of the transaction were not disclosed.
About Raven Resources Corp.
Raven Resources Corp. (RVN) dedicates itself to unlocking the potential of strategic investments. RVN invests in a select number of companies and actively participates in their growth by providing back-office administration, financial direction, management consulting, corporate governance, and brand strategy.
Based in Dallas, Texas, RVN specializes in buy-side investing with a focus on seizing opportunities and reacting to events. RVN's investment portfolio encompasses three main categories: real estate, construction and construction materials, and private credit.
About Grove Electric & Lighting Supply
Grove Electric & Lighting Supply (Grove), in operation for approximately 27 years, offers a comprehensive range of electrical supplies essential for daily use by both residential and commercial contractors, as well as individual customers. The dedicated staff at Grove, in place for over 17 years, prioritizes understanding and anticipating customer needs, ensuring exceptional service by maintaining a well-stocked inventory.
Contact Information
Jamie Moss
Chief Administrative Officer
jmoss@rvn.rs
+1 (913) 667-0330
SOURCE: Raven Resources Corp.
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