EVERY WEEKDAY IN DECEMBER, TED MAGAZINE IS COUNTING DOWN THE TOP 20 STORIES OF 2016. BELOW, THE #10 MOST-VIEWED STORY OF THE YEAR, ORIGINALLY PUBLISHED ON JULY 31, 2017.
EAST DUBUQUE, Ill. — Crescent Electric Supply Company has completed the purchase of Danville, Virginia-based Womack Electric Supply. Founded in 1938, Womack has grown from a single location to become a recognized leader in the Virginia and North Carolina markets, achieving sales of $100 million in 2016. With approximately 150 employees, Womack serves contractor, industrial and government customers from 18 stocking branches in Virginia and North Carolina. The transaction closed on July 31, 2017.
“We are thrilled at the opportunity to acquire a company with the reputation, strength and market presence of Womack Electric,” noted Marty Burbridge, Crescent Electric president and CEO. “Under Crescent ownership, Womack will continue to operate under the Womack name and brand with the same employees, leadership team, suppliers and customers. We will leverage our companies’ respective strengths to grow the business.”
Speaking of the acquisition, Womack Electric CEO Ray Womack noted, “We searched for the right organization to purchase Womack Electric, one that shared our values and vision. I feel strongly that Crescent Electric is that company.”
“Our cultures are very similar,” Womack continued, “Our employees will have extensive opportunities for training and professional development, and Crescent has the resources to continue to grow the Womack business throughout the Southeast. We will share best practices and learn from each other’s successes.”
Womack Electric will continue to operate from its current Danville, Virginia headquarters and customer and supplier contacts will remain unchanged.Tagged with 2017, top 20