CHARLESTON, S.C. – Sonepar announced two acquisitions to kick off an exciting 2023
Sonepar announced on Tuesday that its U.S. subsidiary Codale Electric has acquired NEDCO Supply.
A privately owned business since 1982, NEDCO Supply is a full-line distributor of electrical products and services to its residential and commercial customers. Operating throughout southern Nevada, NEDCO Supply is based in Las Vegas and has over 100 associates. NEDCO is expected to record sales revenue in excess of $180 million for 2022.
“NEDCO Supply will strengthen Codale’s position in southern Nevada, increasing its coverage in an area experiencing great growth,” said Rob Taylor, president of Sonepar North America. “As a leader in electrical distribution among contractors in the Las Vegas market, NEDCO Supply is a perfect complement to Codale’s industrial customer base. The leadership and associates of NEDCO will align very well to the customer-centric culture of Codale.”
“After 40 years serving the Las Vegas electrical market, we’re very thankful to all our customers, employees, and vendor partners for supporting us through the years,” NEDCO Supply owners Marshall Hunt and Marc Winard said in a joint statement. “We are excited to join the Sonepar family of companies. We feel this opportunity secures the future for our employees and enables our team to sustain the high level of customer service we’ve been known for. When it came time to sell, Sonepar was our first choice. Marshall and I look forward to continuing our careers under the Sonepar banner.”
Next, Sonepar announced Wednesday that U.S. subsidiary Springfield Electric has entered into an agreement to acquire Holt Electrical Supply.
A privately owned business since 1962, Holt Electrical Supply is a full-line distributor of electrical products and services to its residential and commercial customers. Headquartered in St. Louis, with 80 associates and eight total locations spanning the state of Missouri, the acquisition springboards Springfield into one of its key strategic growth markets.
Holt is expected to record sales revenue of approximately $75 million for 2022.
“Holt has a great reputation in the St. Louis market. Through the years, Sylvan and Ryan Holtzman have built strong customer relationships and positioned the company and their associates for growth,” said Rob Taylor, president of Sonepar North America. “Holt is a strategic fit for Springfield, as they look to expand across the Midwest.”
“After sixty years in business, spanning three generations, I am more than excited to say Holt Electrical Supply will be joining Springfield Electric,” said Holt owner Sylvan Holtzman. “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.”
“We are incredibly excited and humbled to join Springfield Electric and Sonepar. Springfield Electric is an industry leader with an exceptional reputation,” added Holt co-owner and CEO Ryan Holtzman. “We feel Springfield will bring its resources and innovation to our market, creating incredible opportunities and solutions for our customers and associates. We are so thankful to our incredible team, both past and present, for their commitment to Holt.”
First, Sonepar announced on Tuesday that its U.S. subsidiary Codale Electric has acquired NEDCO Supply.
A privately owned business since 1982, NEDCO Supply is a full-line distributor of electrical products and services to its residential and commercial customers. Operating throughout southern Nevada, NEDCO Supply is based in Las Vegas and has over 100 associates. NEDCO is expected to record sales revenue in excess of $180 million for 2022.
“NEDCO Supply will strengthen Codale’s position in southern Nevada, increasing its coverage in an area experiencing great growth,” said Rob Taylor, president of Sonepar North America. “As a leader in electrical distribution among contractors in the Las Vegas market, NEDCO Supply is a perfect complement to Codale’s industrial customer base. The leadership and associates of NEDCO will align very well to the customer-centric culture of Codale.”
“After 40 years serving the Las Vegas electrical market, we’re very thankful to all our customers, employees, and vendor partners for supporting us through the years,” NEDCO Supply owners Marshall Hunt and Marc Winard said in a joint statement. “We are excited to join the Sonepar family of companies. We feel this opportunity secures the future for our employees and enables our team to sustain the high level of customer service we’ve been known for. When it came time to sell, Sonepar was our first choice. Marshall and I look forward to continuing our careers under the Sonepar banner.”