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Electrical supply marketing groups Equity/EDN Marketing Group, Concord, OH, and IMARK Group have joined as of Jan. 1, 2009.
The combination of IMARK / Equity/EDN creates an organization with an 18% market share in the electrical supply industry, according to a press release, with combined revenues approaching $15 billion. The groups say that greater economies of scale will provide members with lowered operating costs, improved member returns, and added economic value for new and existing IMARK/Equity/EDN Members.
According to its Web site, IMARK is a member-owned marketing group with 176 independent electrical distributors in the U.S., including more than 70 distributors that rank in the top 200 in the country. IMARK distributors have more than $8 billion in combined sales.
Founded by way of merger in May of 2003, Equity/EDN has 960 members and 1,100 locations nationwide with annual revenues of $6 billion. Matt Roos, current president and CEO of Equity/EDN, will lead the new Equity/EDN Division of IMARK Group.
According to Roos: In our long-range planning sessions and with market dynamics continually changing, we concluded that in order to continue to improve our market position we needed to align with the leader in our industry. Clearly, IMARK offered the best opportunity. IMARK supports its approved suppliers and consistently outperforms the market and offers its members the highest returns. IMARK's culture and style mirrors that of Equity/EDN, which was paramount in our thinking. We are excited about the prospects that this new opportunity provides for future growth.