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Headquarters: Albuquerque, NM
2014 Revenues: $421.5 million
Change in Sales from 2013: 3.8%
Number of New Locations: 3
2014 Acquisitions: Central Electric
Key Executives: Victor R. Jury, Jr., CEO; Paul Jeffries, president & COO
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.
Summit Electric says the year is off to a slow start, burdened by weakness in industries and markets related to oil, as well as in its home state of New Mexico due to high dependence on federal dollars, which are decreasing. But it is seeing strength in its engineering procurement and construction business and also in international markets.
Challenges in 2015 include finding good people, as well as dealing with the consolidation of vendors and distributors and the resulting impacts on business.
The company in early 2014 launched a new mobile app, and later in the year it expanded to Houma, LA. Summit named Paul Jeffries as president and COO in March.
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