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The West Coast electrical distribution market appears to have become a key target for global players. Rexel's agreement to acquire Beaverton, OR-based Platt Electric Supply is the latest move in that region.
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Part of the attraction of this acquisition for Rexel was the lack of overlap between the two companies' footprints. "The Northwest is just one of those regions where we saw a lot of opportunity to grow," says Brad Greene, vice president of human resources and communications for Rexel Holdings USA, Rexel's U.S. operation.
Platt has 111 branches in 7 states and two logistics centers. Sales in 2011 were $394 million.
The integration of Platt into Rexel is still being determined, but unlike most of Rexel's acquisitions, Platt will continue to operate as Platt Electric Supply,. "Platt has outstanding brand recognition and a real presence in the Northwest U.S.," Greene says. "We're very much going to use that."
Another attraction for the global electrical distributor: Platt's training tools and technology innovations, including the online Platt University. "We're really going to look closely at how we can bring more of that into Rexel," Greene says.
Greene declined to talk about other potential acquisition targets for Rexel, but said the company intends to be an acquirer and the U.S. is a very attractive market.