Electrical supplies distributor Border States announced Aug. 11 that it has reached an agreement to acquire Meridian, Mississippi-based Sequel Electrical Supply.
Sequel was founded in 2004 in Greenwood, Mississippi as Dixie Supply. Today, it has 18 locations across Mississippi, Louisiana, Alabama and Florida, backed by 220 employees. The company is led by President Lee Moseley and has 220 employees.
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“We have an incredibly talented, dedicated group of employees — the move to join Border States places each of them in a position to enjoy the rewards of employee-ownership,” Moseley said in a news release. “Being part of an American employee-owned-and-operated company was part of our plan and important to our team, Border States has a reputation of being a successful employee stock ownership plan and a place employee-owners can build a career and develop professionally — this is a great fit for Sequel.”
Fargo, North Dakota-based Border States was No. 6 on MDM’s 2023 Top Electrical Distributors List.
Border States said Sequel’s geographic coverage was particularly appealing, as the deal adds four states in the economically-growing eastern U.S. Gulf Coast while creating no overlap with the company’s current 25-state footprint.
“They have built an impressive distribution company in the eastern U.S. Gulf Coast,” Border States CEO David White said. “Sequel is the right geographic addition for our footprint; the potential for growth is clearly present. The Sequel team is well respected, driven for success and focused on customer service. We are excited to welcome them to our 100% employee-owned company.”
Terms were not disclosed for the transaction, which is expected to close on Aug. 26.
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Once the deal is completed, Border States will have over 3,250 employees across 120+ branch locations in 29 states.
The acquisition is the first for Border States since its April 2022 edition of Advance Electrical Supply in Chicago.