Heritage Partners, Inc., Boston, MA, a private equity firm focused on family-owned businesses, has made an investment in OneSource Distributors Inc. OneSource is a family-owned electrical distribution company in Southern California, one of the largest and fastest growing electrical products markets in the country. 

 

The transaction was structured as a Heritage Partners Private IPO, allowing the shareholders to receive liquidity, capital for growth and retain control of the firm.

 

Oceanside, CA-based OneSource provides full lines of electrical parts, electronic components, industrial automation, lighting and switchgear products.  It sells to five primary customer segments: utility; original equipment manufacturing (OEM); public works contractors; industrial maintenance, repair and operations (MRO); and commercial MRO.

 

The company operates through three regional sales divisions in San Diego, Orange County, and the Greater Los Angeles area. OneSource Distributors, which had 2005 sales of about $170 million, was wholly owned by its two founders, President and CEO Bob Zamarripa and Executive Vice President Paul Judge.

 

‘We are excited to invest in OneSource Distributors, which is a terrific fit for our Private IPO  structure,’ said Mark Jrolf, a General Partner at Heritage Partners, who will be joining the OneSource Board of Directors with General Partner Peter Hermann.  ‘The company has non-cyclical and predictable revenues in a growing market, differentiated services and capabilities, excellent and longstanding customer and supplier relationships and a strong management team geared for growth.  Additionally, OneSource will generate compelling opportunities for select acquisitive growth in this large and fragmented industry.’ 

 

OneSource supplies customers with a wide range of products from all of the top manufacturers through a paperless, 94,000-square-foot, ISO 9001/2000-certified distribution center in Oceanside, CA, and 11 branch locations.  OneSource also offers its customers value-added services including e-commerce, assembly and manufacturing, third-party logistics services, project packaging, and project engineering.

 

About Heritage Partners
Heritage Partners, a Boston-based private equity firm, is focuses on family-owned businesses and closely-held companies. Through its Private IPO structure, Heritage enables the owners of successful middle-market companies to realize significant liquidity from their businesses while maintaining a large equity investment and ongoing control of their business. Heritage serves as a strategic partner for such businesses as they seek to grow through acquisitions, organic business and operational improvements.