The purchase will help clients of the selling company receive long-awaited generators and services.

BOCA RATON, Fla. — Nelson Mullins Riley & Scarborough LLP represented Rack Electric LLC, a Boca Raton, Florida-based electrical services company, in its acquisition of assets from Energized Electric LLC.

The transaction closed on Feb. 9, 2023. Partner John F. Haley and Senior Associate Franco Furmanski advised Rack in connection with this acquisition. Partner Gary M. Freedman, who focuses his practice on bankruptcy law, helped secure the bankruptcy court’s approval for the transaction to close. The bankruptcy court’s approval was needed because Energized Electric’s sole owner had previously filed for bankruptcy. Associate Elaine Kussurelis advised the client regarding a potential dispute with a competitor – both she and Freedman played a major role in achieving a successful closing.

This acquisition allows hundreds of Energized Electric customers to obtain services contracted by Energized Electric but not performed due to the company and its owner’s poor financial situation.   According to a report from the West Palm Beach television station WPTV Channel 5, Energized Electric owed hundreds of its customers generators for, “which they paid thousands of dollars.” All of these customers and the service obligations owed to each of them have been transitioned to Rack as part of the transaction.

Haley and Furmanski focus on domestic and cross-border M&A and financing transactions for a wide variety of sectors, including infrastructure, transportation, energy, technology, and media. Freedman is chair of Nelson Mullins’ bankruptcy and financial restructuring practice group and focuses his practice on bankruptcy and restructuring, receiverships, complex business litigation, creditors’ rights, financial services, commercial foreclosure, director, officer, manager, and member liability litigation, and fraud litigation. Kussurelis focuses her practice on commercial litigation, including contract disputes and trade secret misappropriation.