Context

Sparring Capital acquired a majority stake in Elec 44 to facilitate a management transition as the founders sought to step back from operations. The transaction involves the recruitment of a new CEO to lead the next growth phase. Sparring invested a ticket between €10 million and €15 million (mix of equity and bonds). The founders reinvested alongside the fund. A senior debt package completes the financing with a leverage of approximately 3x EBITDA.

Target

Elec 44 is a digital "pure player" specializing in the online distribution of electrical equipment. Its catalog features over 6,000 SKUs, ranging from switches and circuit breakers to heating, ventilation (VMC), and renewable energy solutions (photovoltaic, EV charging stations). Originally focused on the B2C market, the company has successfully expanded into the B2B segment, with professional electricians now accounting for nearly 50% of its business. The company operates with a team of 35 employees and is currently doubling its logistics capacity through a site extension to support its high-growth trajectory.