New York-Based Hellman Electric Earns Major Investment from Electra USA, Subsidiary of Trusted Global Contracting Company
NEW YORK, March 14, 2019 /PRNewswire/ — Electra USA, a wholly-owned subsidiary of Electra Group (TASE: ELTR), has made a major investment in Hellman Electric, a full-service contractor of turn-key solutions for heavy construction, interior design builds and datacom services. This support allows Hellman Electric to continue its aggressive growth and diversification strategy, as well as bid on much larger, more capital-intensive projects. A longstanding staple of the New York community, Hellman Electric employs more than 250 professional managers, engineers and electrical installation experts.
“By entering into this partnership with Electra Group – a renowned, multinational company with strategic investments throughout the world – we’re poised to continue growing and evolving as a company, just as we have over the past 100 years,” said Steven Lazzaro, President, CEO and Partner of Hellman Electric. “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.”
The Electra Group, Israel’s leading company in the fields of construction, infrastructure, facility management and electromechanical systems, acts as a primary contractor in the public and private sectors nationwide, specializing in complex and large-scale projects. The company is a trusted name 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. “As a respected, knowledgeable and client-focused firm boasting more than 100 years of providing complex electrical installations for heavy construction and building projects, Hellman was a natural fit. We’re confident that this partnership will be mutually beneficial to our shareholders, Hellman’s established customer base and other organizations in need of the company’s vast suite of cradle-to-grave contracting services.”