Home » Monarch Electric to Join Richard Worthy's USESI
Monarch Electric to Join Richard Worthy's USESI
May 22, 2006
U.S. Electrical Services, LLC (USESI), Chester Springs, PA, has added another electrical distributor to its growing portfolio. Former Sonepar CEO Richard Worthy's new venture has signed an agreement to buy Monarch Electric Co., effective May 31, 2006.
Tracing its history to the 1920s, Monarch Electric has two locations in New Jersey and employs more than 70 people. Monarch is a wholesale supplier of a broad range of electrical products to contractor, commercial, and industrial customers.
According to Monarch owner Steve Perlman: 'U.S. Electric Services is an excellent fit for Monarch. We pride ourselves on local service to our customers and that's a key part of the USESI strategy. This deal will give Monarch Electric Co. the strength needed to bring the best value to the marketplace.'
Monarch Electric will retain its name and operations in New Jersey. Steve Perlman will remain as president of Monarch under the new ownership.
'We are excited to have Monarch join the growing family at U.S. Electrical,' said Richard Worthy, president and CEO of US Electrical Services, LLC. 'Monarch operates in a very strong market and we look forward to serving more customers in the greater New Jersey area.'
U.S. Electrical Services, LLC, a Delaware limited liability company with principal offices of operation in Chester Springs, PA, is engaged in the wholesale distribution of electrical products and related services.