Electrical products distributor Sonepar announced a pair of pending acquisitions Sept. 27 for its Sonepar USA subsidiary: Eastlake, Ohio-based Professional Electric Products Co. Inc. (PEPCO) and Plaquemine, Louisiana-based Basin-River Electrical Supply LLC.
Sonepar USA is No. 2 on MDM’s 2022 Top Electrical Distributors list on account of its $11.0 billion in 2021 revenue.
With PEPCO, Sonepar USA adds a strong presence in the northeast Rust Belt. In business since 1968, will add 10 branch locations and 190 associates in Ohio and Pennsylvania to the Sonepar network in the U.S., and Sonepar expects PEPCO to record full-year 2022 revenues of over $300 million.
The deal is expected to close by the end of September.
“PEPCO’s strong utility and contractor business and geographic footprint in Ohio and Pennsylvania makes this an exciting acquisition for us as we look to expand into new territories,” said Rob Taylor, President of Sonepar North America. “PEPCO’s recent growth is impressive, and we look forward to providing PEPCO associates and customers with further opportunities.”
“We are very proud of what our collective PEPCO team has created. Our dramatic growth and ultimate success story have navigated us to an exciting opportunity with Sonepar,” added Joe Borkey, PEPCO’s current owner. “My brother, Jeff, and I feel Sonepar is the right partner to ensure the future success of PEPCO and we look forward to the next chapter for our customers and associates as we join the Sonepar network.”
Basin-River Electrical Supply
A family-owned business since 1981, Basin-River’s branch location will be integrated into Sonepar’s Crawford Electric brand at deal closing, which is expected in October. Crawford has 25 locations across Texas and Louisiana and more than 650 associates.
“In the Louisiana region, Crawford operates four locations focusing on commercial and industrial segments,” said Rob Taylor, president of Sonepar North America. “The Basin-River acquisition further builds Crawford’s presence with petrochemical, utility, and marine contractors.”
“Basin-River’s footprint and customer relationships makes it a great strategic fit for Crawford. Kenny and Geri Lynne Gilbert are well-respected in Plaquemine, and Basin-River’s business continues to outpace the market,” Crawford President Mike Dumas said. “I look forward to welcoming the entire Basin-River team to Crawford and leveraging our companies’ strengths to expand our business opportunities.”
“We had options when it came to this acquisition and Crawford stood out from the rest,” They have a history of being number one in our market and we are excited to join the team,” Basin-River branch business manager Kenny Gilbert added. “Crawford has a phenomenal management team, and we could immediately tell they truly care about their employees.”