Springfield Electric Supply has acquired the assets of Decatur, Ill.-based Soy City Electric Supply.
“Soy City Electric Supply has been a very capable and effective competitor for many years. Combining our resources into one expanded and strengthened team is a further commitment to our future growth in the Decatur market”, said Michael Barker, president and COO of Springfield Electric. “With the additional resources in experienced personnel and added inventory this consolidation gives us, we plan to increase the services offered and our territory coverage.”
Springfield Electric was founded in 1932 and is an employee stock ownership plan (ESOP) company. The 80-year-old Springfield, Ill.-based electrical distributorship has more than 250 employees and 16 locations across Illinois, Iowa and Missouri.
In 1997, Springfield Electric acquired Boland Electric. The company went on to build a new, expanded facility in 1999. In 2011, Springfield Electric purchased Heintz Electric Company of Quincy, Ill.
Soy City Electric Supply has been in business for 65 years. Further details about the acquisition will be released when the transaction is complete.Tagged with tED