Summit Park is pleased to announce it has led a majority recapitalization of DX Electric (“DX” or the “Company”). DX procures, manages and distributes essential electrical c-parts to a broad set of original equipment manufacturers (OEMs) across a diversified set of industrial end markets. A foundational element of the Company’s value proposition is using a vendor-managed inventory model to optimize the procurement and management of essential, high-volume electrical parts.

DX is headquartered in Grapevine, Texas with an additional location in Houston. The Company was founded in 1975 and has remained a family-led business with current CEO, Beckey Fuller and current Vice President, Misty Harriman (alongside their sister, Dina Smith) purchasing the business from their parents in 2009. The company has since grown to become one of the leading value-added electrical distributors in Texas, serving as a critical supply chain solution for their partners across industrial, data center and energy end markets.

Andrew Gilbert, Partner at Summit Park, said, “Summit Park is thrilled to have the opportunity to partner with Beckey and the entire DX team. The business has had impressive growth, driven by the team’s relentless focus on customer service and problem solving. The Company’s decades-long customer relationships are a testament to the critical solution they provide to their customers. In partnership with Beckey, we plan to continue the growth trajectory of the business and expand DX’s value-added service capabilities, products and geography both organically and through acquisition.”

Beckey Fuller, CEO of DX, added, “For 50 years, we have remained committed to excellence and dedicated to providing our customers high quality service to keep their business running smoothly. We have a solution-oriented and customer-first mindset which will continue as we grow. We are energized for our next chapter in partnership with Summit Park and are motivated by the opportunity to expand the solutions we can provide to our loyal customers while continuing to provide exceptional service.”

The transaction marks Summit Park’s sixth investment from its fourth fund, Summit Park IV. PennantPark provided debt financing for the transaction. Stephens Inc. served as the exclusive financial advisor to DX Electric. McGuireWoods LLP acted as legal counsel to Summit Park.

About Summit Park

Summit Park is a Charlotte, North Carolina-based private investment firm focused on investing in lower middle market businesses. The firm strives to be the partner of choice for business owners who seek a partner to assist them in building companies of extraordinary value. We invest across a range of industries, including services, consumer, and industrial growth. Since its founding, Summit Park has made over 50 investments in the lower middle market totaling more than $2.2 billion in total enterprise value. The firm’s capital can be used to facilitate a change in ownership, to support expansion and growth, or to support an industry consolidation plan. For more information, visit www.summitparkllc.com.

About DX Electric

DX Electric is a distributor of electrical c-parts and components to a broad set of OEMs. The Company distributes ~6,400 unique SKUs to a variety of customers across industrial and manufacturing end markets, specializing in parts which are high-volume, low-cost components but carry high indirect costs. DX is headquartered in Grapevine, Texas and has an additional location in Houston. To learn more, visit https://dxelectric.com/

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