What is Newco?
Headquartered in Greeley, Colorado, Newco operates as an independent wholesale electrical distributor with a robust network spanning Colorado, Wyoming, Kansas, and Nebraska. Founded by the Richard family and Joe Daviet, the organization has evolved from a local enterprise into a critical node in the regional electrical supply chain. By prioritizing a no-nonsense, service-oriented business model, Newco has successfully cultivated deep-rooted relationships with electrical contractors and industrial clients. The company's market position is defined by its commitment to competitive pricing and high-touch customer service, which has allowed it to maintain a competitive edge against larger, national distributors while preserving its family-owned heritage.
The company's operational history is marked by strategic geographic expansion, including the establishment of key locations in Ft. Morgan, Loveland, and Cheyenne. This deliberate growth strategy has enabled Newco to effectively serve a diverse range of regional infrastructure projects, solidifying its reputation as a trusted partner for electrical professionals across the Rocky Mountain and Great Plains regions.
How much funding has Newco raised?
Newco has raised a total of $150K across 1 funding round:
Debt
$150K
Debt (2020): $150K with participation from PPP
Key Investors in Newco
PPP
Public-Private Partnership
What's next for Newco?
With the successful acquisition of $150K, Newco is well-positioned to accelerate its strategic objectives in a rapidly evolving market. The late-stage nature of this funding suggests a focus on scaling existing operations, potentially through the modernization of supply chain logistics or the expansion of its inventory management capabilities to meet the increasing demands of regional electrical contractors. As the company looks toward future generations, this capital will likely be deployed to enhance its digital infrastructure and service delivery models, ensuring that Newco remains a dominant force in the wholesale electrical sector. By leveraging its established trust and regional expertise, the firm is prepared to navigate the complexities of modern industrial procurement while maintaining the core values that have defined its success for over five decades.
See full Newco company page
