Global electrical products distributor Sonepar has entered into an agreement to acquire Butler’s Electric Supply, according to a post on Sonepar USA’s Facebook page. Financial details of the transaction were not disclosed.
Founded in 1948, Butler’s Electric Supply is a distributor of electrical and lighting products based in Wilmington, North Carolina. The family-owned business primarily serves small residential and commercial contractors in North and South Carolina.
At closing, Butler’s Electric Supply will be integrated into Maryland-based Sonepar USA subsidiary Capital Electric Supply, according to Sonepar.
“Butler’s Electric is a well-respected distributor who we believe has solid growth potential, especially within the commercial segment,” Capital Electric President Drew Esce said in the post. “I look forward to welcoming the Butler’s Electric team to Capital and leveraging our companies’ strengths to expand our business opportunities together.”
“My father founded this company 75 years ago,” Butler’s Electric Supply owner James Butler said in the post. “We’re very thankful for the associates and customers who brought us to this moment. It was important to me that both would be well-served in the transition of ownership. We found the right partner in Sonepar as they will bring the resources and opportunities necessary to remain competitive for the future.”
The acquisition is expected to close in late May.