Global electrical distributor Rexel has agreed to acquire Munro Distributing Company, Fall River, MA. Munro specializes in energy efficiency solutions in the eastern U.S. and California.

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Rexel will invest about $150 million for this acquisition.

The acquisition of Munro supports Rexels Energy in Motion company plan to consolidate its presence in mature markets and accelerate profitable growth in high potential business categories related to energy efficiency.

After completion of the transaction, Munro Distributing Company will become Rexel Energy Solutions, under the direction of Christopher Hartmann, executive vice president and CEO of Rexel Holdings USA. Scott Munro will remain as president and general manager of Munro Distributing Company with Brian Munro as vice president energy solutions and Kevin Munro as vice president finance.

Rexel’s sales for the third quarter were €3.4 billion (US$4.4 billion), up 7.2 percent over the same period a year ago. On a constant, same-day basis, sales were down 3.6 percent. Profit increased 1.3 percent to €85.3 million (US$110.6 million).

For the first nine months, sales were up 6.8 percent year-over-year to €10 billion (US$13 billion). On a constant, same-day basis, sales declined 0.8 percent. Profit fell 7.8 to €236.4 million (US$306.4 million).

In Europe (55% of group sales), sales were down 0.7 percent in the third quarter. On a constant, same-day basis, sales were down 5.2 percent.

In North America (32% of group sales), third-quarter sales were up 22.5 percent. On a constant, same-day basis, sales were up 0.1 percent. Growth was driven by positive contributions from the acquisition of Platt Electric and the consolidation of Liteco (Canada).

Asia-Pacific third-quarter sales (10% of group sales), were up 0.9 percent on a reported basis, down 9 percent on a constant, same-day basis.

Sales in Latin America (3% of group sales) grew 47.7 percent in the third quarter, 4.3 percent on a constant, same-day basis.