Sonepar has entered into an agreement to acquire Summit Electric Supply.
Founded in 1977 and headquartered in Albuquerque, N.M., Summit Electric supplies electrical products and services to contractors in the industrial, commercial, energy and marine segments.
Summit Electric services the Arizona, New Mexico, Texas and Louisiana markets with 23 branch locations and more than 700 associates.
“This acquisition represents the best of both worlds,” said Rob Taylor, president of Sonepar Americas. “Not only do we increase our size in Texas, the second largest electrical market in the U.S., and Louisiana, but we’re also expanding our presence in adjacent markets in the Southwest. Summit Electric 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 Electric’s associates joining the Sonepar family.”
Ed Gerber, CEO of Summit Electric, 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.
Sonepar is an independent family-owned distributor of electrical equipment, solutions and services. In 2023, Sonepar achieved sales of $36 billion (converted to U.S.). Sonepar operates in 40 countries. Sonepar entered the U.S. in 1998 and has continued to grow due to strategic acquisitions and organic growth.
Sonepar has more than 491 locations nationwide and 11,000 associates.
Don’t miss any content from Distribution Strategy Group. Join our list.
