Vermont-based electrical distributor Green Mountain Electric Supply announced Dec. 27 it has acquired certain assets of fellow electrical distributor Scott Electric Supply. Financial details of the transaction were not disclosed.
Scott Electric Supply has locations in Fredonia and Depew, New York, and covers the Buffalo area and eastern Lake Erie shore. The company was wholly owned by Sam Scott, who passed away earlier this year. It has since been passed on to his living trust and managed by its trustees. The trustees decided to sell certain assets of Scott Electric Supply, according to a news release.
“It was a tough decision to make, but in the end, it was the best circumstance for settling Mr. Scott’s affairs with his Living Trust,” Scott Electric assistant general manager and purchasing manager Bob Coletta said. “Our main concern was making sure all of the employees of Scott Electric Supply would have jobs. Green Mountain was very accommodating and made sure that would be the case.”
Want to be a master of M&A? MDM’s M&A Virtual Summit, held Feb. 21-22, will deliver everything you need. Get details and register here.
With the acquisition, Green Mountain Electric Supply now has 18 locations across Vermont, New Hampshire and New York.
“Scott Electric Supply has a strong presence and great reputation throughout the Buffalo and Fredonia markets,” Green Mountain president and CEO Nathan Laber said. “Our vision for growth, coupled with the Scott Electric Supply locations, employees, and customer base makes this an exciting opportunity for us. We look forward to welcoming the Fredonia and Depew Teams to the Green Mountain Electric Supply Family.”