Electrical products distributor Schaedler Yesco announced Dec. 9 it has entered into an agreement to acquire fellow electrical distributor YESCO Electrical Supply. Closing is anticipated in February 2023 after a “proper due diligence period,” according to a news release. Financial details of the transaction were not disclosed.
The acquisition of YESCO Electrical Supply will strengthen Schaedler Yesco’s presence in Pennsylvania and Ohio. YESCO Electrical Supply has three locations in Pennsylvania and two in Ohio, while Schaedler Yesco has 21 locations in Pennsylvania and one in New York.
Founded in 1986, YESCO Electrical Supply is headquartered in Columbiana, Ohio. After nearly 37 years in the industry, sale of the business is part of current owner and president Lee DeRose’s retirement strategy, according to the release.
“We are very pleased to entrust our team members and customers to Schaedler Yesco,” DeRose said. “We have very similar cultures and couldn’t be happier to transition our business to a strong, growing company dedicated to their customers’ success and employee satisfaction. We are confident that this is the best move for all involved.”
“Our growth strategy in our western region has always included geographic expansion,” Schaedler Yesco president Farrah Mittel said. “YESCO’s culture and experienced team members will complement our current structure and strategic initiatives as we continue to support our customers with valuable products and services.”
News of the acquisition comes less than a week after Schaedler Yesco announced its longtime president Matt Brnik will retire at the end of this year.