Electra USA, a wholly-owned subsidiary of Electra Group (TASE: ELTR), has made a major investment in Hellman Electric, New York, NY, a full-service contractor of turn-key solutions for heavy construction, interior design builds and datacom services. Hellman Electric employs more than 250 professionals. According to Israel Financial Insider, Electra is acquiring 51% of the share capital of Hellman Electric, and well as another New York-based electrical contractor, Gilston Electrical.
“This influx of resources will allow us to make strategic hires, grow our project base and further establish Hellman as the preeminent electrical contractor in the New York metro region for heavy construction, interiors and datacom electrical projects,” said Steven Lazzaro, president, CEO and partner of Hellman Electric, a company press release.
Based in Israel, the Electra Group focuses on construction, infrastructure, facility management and electromechanical systems, and acts as a primary contractor in the public and private sectors nationwide, specializing in complex and large-scale projects. The company works in 17 countries across four continents. “We were in search of a well-established company that had expertise in the New York market and an impeccable reputation,” said Itamar Deutscher, president and CEO of Electra Group, in the press release.