Irby, Jackson, Miss., a subsidiary of Sonepar USA, today signed an agreement to acquire the assets of Treadway Electric of Little Rock, Ark., effective Jan. 1. Established in 1905, is Arkansas’ oldest electrical distributor and employs over 100 employees in 14 locations throughout the state of Arkansas.
Archive for the ‘Mergers & Acquisitions’ Category
Colonial Electric Supply acquires telecom specialist
An article in Pennsylvania’s Times Herald says Colonial Electric Supply, King of Prussia, Pa., has acquired TelTek Sales Inc., Philadelphia, to bolster its offering of telecom products and services.
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Mersen to acquire provider of busbars
Mersen, Newburyport, Mass., has entered into an agreement in principle with Eldre, the largest worldwide pure player in laminated busbars, for its acquisition. This acquisition allows Mersen to expand its current product range supporting the improvement of efficiency, performance and safety of power electronics. Already a global provider of fuses and cooling products for the protection of semiconductors, Mersen will now add laminated busbars to its bundled offer.
Based in Rochester, N.Y., Eldre is a family-owned business with manufacturing facilities in Rochester and Saint Sylvain d’Anjou, France, that employs approximately 300 people. The business will be integrated into Mersen’s Electrical Components and Technologies segment and will contribute an additional annual revenue of c. 40 million USD.
Marc Vinet, Group V.P., Electrical Protection and a member of Mersen management board said, “I’m delighted to welcome the team that has driven Eldre to its leading position. With our on-going portfolio expansion and our current global operations, we bring our application expertise and logistic support to our partner customers at the heart of their power electronics solutions.”
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BREAKING NEWS! Sonepar USA acquires SoCal’s OneSource
Sonepar USA, Philadelphia, announced today that OneSource Distributors, Oceanside, Calif., has signed an agreement to join the Sonepar group.
Dave Gabriel, CEO of Sonepar USA, said, “We are delighted to have OneSource Distributors as part of the Sonepar USA team. OneSource is a terrific company that shares our values and passion for a customer focused, value-driven organization with an excellent management team and proven track record for performance in the market. This partnership further enhances our growth in the California market and truly makes us a leader in that region. Bob Zamarripa and his team at OneSource have made a long term commitment to the organization both in their ongoing leadership roles, as well as their continued investment in the company.”
Founded in 1983 as a single location, OneSource has grown to a company with 13 locations and more than 300 employees. OneSource Chairman, co-founder and CEO Bob Zamarripa said, “We are thrilled to be part of the Sonepar USA team. Our cultures align incredibly well, and I believe we will accelerate our growth, offer more value to our customers and further increase the career opportunities for our people.”
This is Sonepar’s second blockbuster acquisition of a Top 200 California distributor this year. The company previously acquired Independent Electric Supply, San Carlos, Calif., and now has a solid presence in both the San Francisco Bay Area and Southern California.
Burndy buys manufacturer of solar products
Burndy, Manchester, N.H., purchased substantially all the assets of Wiley Electronics LLC, a niche provider of grounding, bonding, and cable management solutions for solar panel and rack mounting applications, on Oct. 14. Wiley Electronics products are sold under the Wiley WEEB and ACME Cable Clip names. Details
Springfield Electric Supply Announces Acquisition of Heintz Electric
Springfield Electric Supply Co. purchased the assets of Heintz Electric Co., Quincy, Ill. Locations acquired include Quincy; Hannibal, Mo.; and Keokuk, Iowa. Springfield Electric now has 16 branch operations and is headquartered in Springfield, Illinois. Next year will mark the Springfield Electric Supply Co.’s 80th anniversary. The company is a partial ESOP with more than 275 associate owners.
WESCO buys Canadian industrial and utility distributor
WESCO Distribution, Inc., Pittsburgh, announced plans to acquire Brews Supply, Ltd., headquartered in Calgary, Alberta, through its Canadian subsidiary. Founded in 1927, Brews is a full-line distributor of industrial, utility and commercial products with branches in Calgary, Edmonton, Mississauga and Fort McMurray. Its trailing twelve-month sales were approximately $50 million. The company’s line card reads like a “Who’s-who” of blue-chip manufacturers of electrical and utility products.
Since the mid-1990s, many of WESCO’s acquisitions have been in industrial and utility markets. Over the years, the company has acquired industrially oriented distributors such as Avon Electrical Supplies, Inc., Hauppage, N.Y.; Coghlin Electric & Electronics, Westborough, Mass.; Fife Electric, Detroit, Mich.; Industrial Electric Supply Co., Birmingham, Ala.; Murco, Inc., Monroe, La.; and Standard Electric Supply, Bangor, Me., Its utility acquisitions have included Hamby-Young Power Products, Aurora, Ohio; and Power Supply, Inc., Houston, Texas.
In a press release announcing the acquisition, John Engel, WESCO’s chairman and CEO, said Brews is a “well-established business with long-standing customer and supplier relationships and operates in the high-growth energy and industrial regions of western Canada. This acquisition strengthens our industrial and utility market positions in Canada.”
WESCO was ranked #2 on EW’s 2011 Top 200 listing with $4.88 billion in sales. Details
Irish LED specialist Nualight buys Dutch LED specialist
Retrofits of refrigerated food cases in grocery stores were some of the early applications for LED lighting because LEDs operate fine in cold temperatures, unlike some traditional lighting technologies. It’s very much a global market opportunity, as you will seen in this post at www.siliconrepublic.com, which says Irish lighting specialist Nualight, has acquired Lumoluce, a Dutch LED lighting technology firm, for just under €11m (approximately $15 million). www.siliconrepublic.com says the acquisition of Lumoluce is expected to bring Nualight’s revenues to just over €25m for 2011 (approximately $34 million).
Kaman Industrial Technologies acquires Target Electronic Supply
Automation giant Kaman Industrial Technologies, Bloomfield, Conn., which last year acquired long-time Top 200 distributor and automation specialist Minarik Corp., Glendale, Calif., has
acquired Target Electronic Supply, Westwood, Mass., a motion control specialty distributor with $19 million in 2010 sales.
EIS buys Cobra Wire & Cable
EIS Inc. Atlanta, a wholly-owned subsidiary of Genuine Parts Company (NYSE: GPC), has acquired the stock of Cobra Wire & Cable Inc. from Merit Capital Partners and Fulton Capital. Cobra has a headquarters and distribution facility in Hatboro, Pa., and additional distribution locations in Plano, Texas, and Seattle. Cobra serves the telecom, battery, uninterruptible power supply (UPS) and marine markets.
Bob Thomas, president and CEO of EIS, said in a press release, “This acquisition is consistent with our strategy to grow our current specialty wire and cable business into targeted adjacent markets. Cobra will operate as a separate division of EIS and continue operations with all existing customers and suppliers from their current facilities.”
Peter Sheehan, Cobra Wire and Cable’s president, will lead the new EIS Wire and Cable Division. EIS is a national distributor of process materials; production supplies and value added fabricated parts. In addition to wire and cable, EIS focuses on the electrical OEM, apparatus repair and various assembly markets. EIS supplies more than 100,000 critical products from 38 branches and three fabrication facilities located in North America.