Sonepar, Charleston, S.C., distributor of electrical products, solutions and related services, has agreed to acquire Madison Electric Company and Standard Electric Company.
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The two Michigan-based companies will add 36 locations to the Sonepar network. Combined, the two companies had sales of about $400 million in 2023.
“Madison and Standard have achieved a position as one of the leaders within the 10th largest electrical distribution market in the U.S. They have an outstanding reputation across Michigan built on lasting customer relationships and have positioned the business and their associates for long-term growth. These companies fit strategically within Sonepar’s Midwest footprint and have a strong culture with talented associates that we welcome to the team,” said Rob Taylor, president of Sonepar Americas.
Brett Schneider, president of Madison Electric, and Bill Gray, president of Standard Electric, said in a joint statement:
“We are excited about the ways in which our companies will grow with additional Sonepar capabilities, resources and investments. We chose them because of their alignment to our own culture, values and belief in our potential. We look forward to the next chapter for our associates, and for Sonepar, as we bring their great company into Michigan.”
The acquisition is expected to close by the end of April, pending regulatory review.
