CHARLESTON, S.C. – Sonepar announced it has entered into an agreement to acquire Summit Electric Supply.
Founded in 1977 and headquartered in Albuquerque, New Mexico, Summit supplies electrical products and services to a diverse customer base of contractors in the industrial, commercial, energy, and marine segments. Summit Electric Supply services the Arizona, New Mexico, Texas and Louisiana markets with 23 branch locations and more than 700 associates.
Rob Taylor, President of Sonepar Americas, said of the agreement:
This acquisition represents the best of both worlds. Not only do we increase our size in Texas, the second largest electrical market in the US, and Louisiana, but we’re also expanding our presence in adjacent markets in the Southwest. Summit Electric Supply has an extensive product offering and specialized knowledge, in addition to a long track record as a trusted partner to contractors and leading electrical equipment suppliers. We look forward to Summit’s associates joining the Sonepar family.
Ed Gerber, CEO of Summit Electric Supply, shared:
Sonepar has a proven track record of supporting market expansion, company culture, operating style and brand identity of the companies they acquire. Coupled with their resources and investments in digital and supply chain as well as career development for our associates, it is clear that Sonepar is the right fit and best positions Summit for continued long-term accelerated growth. I am deeply grateful for our talented associates that made our incredible growth trajectory and success possible over the years. We are thrilled to join the Sonepar family and look forward to what this next chapter will bring.
The acquisition is scheduled to close by the end of September, subject to regulatory approval.
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