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Headquarters: Albuquerque, NM
2015 Revenues: $426 million
Change in Sales from 2014: 1.1%
Number of New Locations: 2
Key Executives: Victor R. Jury, Jr., CEO
Summit Electric Supply carries a range of products from basic commodities to sophisticated electrical components, including motor control, distribution, wire and cable, cords, lighting, conduit and fittings, wiring devices, support systems and fasteners, raceway, outlet boxes and enclosures, transformers and power protection equipment.
In its Market Leaders nomination form, Summit Electric says it is seeing strength in the commercial market and weakness in the industrial and oil and gas markets. It is targeting the lighting retrofit market as a growth industry in 2016 as it faces challenges with "people, economy, growth, vendor consolidation/leveraging."
The company hired a new president and COO last year, and it remains focused on investing in its business. CEO Victor Jury Jr. told MDM earlier this year: “We try to practice an investment mindset instead of what I think a lot of larger, publicly held companies, in particular, tend to do. They view things like payroll or technology from a financial perspective, seeing them as expenses rather than investments.”
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