Lafayette Square Provides Financing to Support Ickler Electric's ESOP

MIAMI, June 12, 2025 /PRNewswire/ -- Lafayette Square announced today that it has provided debt and equity capital to support Mosaic Capital Partners LLC's ("Mosaic") investment in IE Group Holdings, Inc. ("Ickler Electric" or "Ickler"), a leading San Diego-based electrical contractor serving mission-critical industries, through a newly formed employee stock ownership plan (ESOP).

Founded in 1985, Ickler Electric specializes in highly technical, mission-critical projects across biotechnology and life sciences, pharmaceutical, laboratory and other commercial industries. Ickler has a robust set of capabilities, including extensive in-house pre-fabrication solutions, to service its customers with industry best lead times.

"Since our founding, Ickler's success has been driven by our employees' dedication and commitment to excellence," added Randy Minnier, President and CEO at Ickler Electric. "Being able to partner with Mosaic and Lafayette Square, both of which are deeply focused on worker wellbeing, to facilitate an employee ownership model while bringing in additional resources to support our clients is a win-win-win situation."

Beyond capital, Lafayette Square provides support and incentives to portfolio companies through its affiliated managerial assistance program, Worker Solutions^®, a tailored benefit offering designed to reduce turnover and operational risk while improving job quality, retention, and productivity.

"Ickler Electric has established itself as a trusted partner to companies operating mission-critical facilities" said Vishnu Amin, Managing Director at Lafayette Square. "By engaging its clients early in the design phase, Ickler ensures delivery of tailored power systems that maximize efficiency and protect against unplanned facility interruptions. We are excited to support Randy and his fellow employee owners during this next stage of growth."

About Mosaic Capital Partners, LLC
Mosaic Capital Partners LLC is a private equity firm focused on investing in lower middle market companies ($3-$12 million EBITDA) through employee ownership transactions. Based in Charlotte, NC Mosaic combines a number of compelling attributes of private equity and employee ownership in its unique investment approach. For more information, please visit www.mosaic-cp.com.

About Ickler Electric
IE Group Holdings, Inc. is San Diego's premier commercial electrical contractor serving clients in mission-critical industries for nearly 40 years. Ickler is headquartered in Poway, CA. For more information, please visit www.icklerelectric.com.

About Lafayette Square
Lafayette Square is a private credit firm lending capital to growing middle market companies in working-class places. The firm is driven by four key differentiators: non-sponsored deals, enhanced managerial assistance through its affiliated Worker Solutions^® platform, a technology-first data-driven investment strategy through Potomac X Lafayette Square™, and institutional partnerships. Lafayette Square's thesis holds that working-class people and places are ignored by private credit creating an attractive investment opportunity subject to conservative underwriting, managerial assistance, and technology. Lafayette Square aims to support 100,000 working-class jobs, invest 50% of capital in working-class places, and curate benefits for 50% of its portfolio by 2030. For more information, please visit www.lafayettesquare.com.

Media Contact:
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Dukas Linden Public Relations
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SOURCE Lafayette Square Holding Company