Gridco Announces Strategic Growth Investment from BayHawk Capital

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Gridco (the “Company”), a leading provider of maintenance, upgrade, and construction services to electric utilities, has received a strategic growth investment from BayHawk Capital (“BayHawk”), a premier private equity firm focused on investing in founder-owned essential services and technology businesses. The partnership will fuel both organic growth and strategic acquisitions while strengthening Gridco's capacity to serve utility clients and expand opportunities for its workforce. BayHawk’s investment was made in partnership with Gridco’s founding management team, who remain the majority shareholders and will continue to lead the business. Alongside Gridco’s founders and BayHawk, Jeffrey Schmidt, a former MasTec and Quanta executive, will be joining the Company’s board of directors.

Founded in 2023 by Brad Weaver and Patrick Russo, with Trent Weaver joining the founding team in 2024, Gridco is a leading provider of distribution, transmission, and substation repair and maintenance services to investor-owned, cooperative, and municipal electric utilities across the Southeastern United States. The Company has established a strong reputation as an employee-first organization, investing in and developing skilled crews to provide superior services to its utility customers to enhance the safety, reliability and efficiency of their critical electrical infrastructure.

“This partnership marks a pivotal next step in Gridco’s growth and evolution,” said Brad Weaver, CEO at Gridco. “This capital investment will allow us to further expand our customer-centric service model and to continue providing compelling growth opportunities for our team of over 350 skilled professionals. We are excited to partner with the BayHawk team and believe the combination of their sector expertise in the electric utility space and shared vision for the potential of our platform will play a key role as we work toward our goal of being a national provider of best-in-class utility services.”

“Gridco’s services are mission-critical to the electrical grid and are benefiting from multi-decade tailwinds driven by the aging of our electrical infrastructure, accelerating load growth from electrification trends including AI and data center proliferation, and regulatory reliability mandates,” said Doug Haber, Managing Partner at BayHawk. “The Gridco team has created an exceptional company defined by a strong culture and deep understanding of its client needs, and we feel fortunate to be their partner in this next phase of the Company’s growth.”

“We are honored to partner with Brad and the Gridco management team to support the Company as it scales into a national provider of mission-critical utility services,” said Scott Prozeller, Managing Director at BayHawk. “The Company’s vision of becoming the most trusted provider of infrastructure services to all constituents – employees and customers – aligns perfectly with our values at BayHawk.”

BayHawk invested in Gridco through BayHawk Fund I, which recently closed on over $600 million of capital commitments. Fund I is being actively deployed, with Gridco the second platform investment completed to date.

About Gridco

Gridco, Inc. is an employee-focused provider of mission-critical utility services, operating a platform that delivers distribution, transmission, substation, lighting, and engineering services. Founded in 2023, the Company operates across the Southern United States. For more information visit www.gridcompany.com.

About BayHawk Capital

BayHawk Capital is a Boston-based private equity firm dedicated to partnering with founder-owned technology and essential services companies, investing $25 to $150 million of equity per opportunity. The firm’s sector expertise, combined with a track record of operational value creation, positions BayHawk as a trusted partner for companies seeking to scale and thrive in today's competitive landscape. For more information, please visit www.bayhawkcapital.com.