Franklin Empire Inc., an independent electrical supplies distributor in Eastern Canada, announced that it has entered into a definitive agreement to acquire O’Neil Electric Supply, an Ontario-based electrical distributor with three locations in the greater Toronto area.

In a Feb. 17 news release, the company stated the strategic acquisition will further strengthen Franklin Empire’s position within the electrical industry and support its long-term growth strategy.

Both Franklin Empire and O’Neil Electric are family/privately-owned businesses and member-owners of Affiliated Distributors (AD).

Founded in 1965, O’Neil Electric operates three branches located in Woodbridge, Scarborough and Cambridge, Ontario and employs approximately 150 people.

“This acquisition marks a very exciting time in Franklin Empire’s history. The cultural alignment between the Backman family and O’Neil family is an excellent fit,” said Cliff Backman, Franklin Co-President. “We have known and admired each other’s success for many years. We are so happy that O’Neil will remain a part of an independent distributor within the AD community. Together, this will allow us to offer even more complementary solutions and services to our customers while serving broader markets across Ontario.”

Founded in 1942, Franklin Empire is a fourth-generation family business with 23 branches and five assembly and repair shops across Quebec and Ontario, and a workforce of over 600 employees. The company supplies electrical components for new construction, renovation and maintenance of industrial plants, residential properties and commercial buildings.

“When we undertook the decision to sell, identifying the strongest cultural match, while ensuring continued long-term growth, was our highest priority,” added Michael O’Neil, CEO of O’Neil Electric Supply. “We have long held a quiet appreciation for Franklin Empire, not only as a respected competitor, but also as a trusted peer and friend within the AD group. We are genuinely excited about the unlimited opportunities that the combined new entity will create for our employees, customers and suppliers, as the Backman family continues to build on their legacy of growth and entrepreneurship.”