Home » Stuart C. Irby Co. to Acquire Electric Utility Distributor RE Supply
Stuart C. Irby Co. to Acquire Electric Utility Distributor RE Supply
June 21, 2006
Stuart C. Irby Co., a subsidiary of Sonepar USA, has agreed to acquire Rigby Electric Supply, Inc. (RE Supply).
RE Supply is an electric utility distributor operating out of Rocky Mount, NC, that specializes in servicing municipalities, investor-owned and co-operative electric utilities within North Carolina, South Carolina, Virginia, Maryland and Delaware.
Michael C. Wigton, President of Irby, says, 'RE Supply was attractive because of its position in the fast growing Carolina and mid-Atlantic regions, its specialization in the technical services area and its experienced and knowledgeable employees. This important acquisition provides a unique opportunity for Irby to strengthen our position in the utility market and expand our existing utility product and service offering.
Under the terms of the agreement, Irby will add one new location in North Carolina to its utility footprint.
'RE Supply is very excited about joining the Irby/Sonepar family. We will transition to operate and market ourselves under the Irby name,' says Rick Voltz, president of RE Supply.
Irby operates in four market segments ﾖ utility, commercial, contractor and industrial.
Global electrical distributor Sonepar is a privately owned independent group with headquarters located in Paris. With operations in 29 countries across four continents, the group's 21,100 employees and 1,242 branches generate annual sales over $9.3 billion (7.8 billion Euros). Sonepar entered the Utility market in September 2005 by acquiring Irby and is now reinforcing that position with RE Supply.