On Jan. 4, Sonepar said its U.S. subsidiary, Springfield Electric, has agreed to acquire St. Louis-based HOLT Electrical Supply. Financial details were not disclosed, but Sonepar said HOLT is expected to record sales revenue of approximately $75 million for 2022.
HOLT Electrical Supply is a privately owned full-line distributor of electrical products and services to its residential and commercial customers. The company has 80 associates and eight locations in Missouri.
Sonepar said the acquisition “springboards” Springfield into one of its key strategic growth markets.
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“HOLT has a great reputation in the St. Louis market,” said Rob Taylor, President of Sonepar North America. “Through the years, Sylvan and Ryan Holtzman have built strong customer relationships and positioned the company and their associates for growth. HOLT is a strategic fit for Springfield, as they look to expand across the Midwest.”
The acquisition is expected to close by the end of January, Sonepar said. Sonepar ranks No. 2 on MDM’s 2022 list for Top Electrical Distributors.
“After sixty years in business, spanning three generations, I am more than excited to say HOLT Electrical Supply will be joining Springfield Electric,” said Sylvan Holtzman, owner of HOLT Electrical Supply. “With Springfield, HOLT will be able to serve our existing, loyal customers with new capabilities and grow our customer base. I want to thank my father, Sam, and my son, Ryan, along with all the HOLT employees for their devotion and hard work that created this great opportunity. We wouldn’t be here without them.”