Graybar to acquire Cape Electrical Supply
Graybar has entered into an agreement to acquire Cape Electrical Supply of Cape Girardeau, Missouri.
The transaction is scheduled to close on July 1. Terms were not disclosed.
Cape Electric is a regional distributor serving electrical contractors and large engineering construction firms, as well as industrial, institutional and utility customers. Cape Electric was founded in 1953 and produced revenue of approximately $126 million in 2015 through its 17 locations in the central United States. As a subsidiary of Graybar, the company will continue to operate under the Cape Electrical Supply name with the same employees, leadership team and suppliers.
“We are excited to welcome the Cape Electric team to Graybar and look forward to achieving profitable growth together. This marks the second acquisition for Graybar in as many years, and we will continue to seek out similar opportunities to expand our reach and diversify our business in the future,” said Kathleen M. Mazzarella, Graybar’s chairman, president and CEO.
Kyle Thoma, Cape president and CEO, added, “Cape Electric and Graybar complement each other well, and we are pleased to become part of the Graybar team. We believe this gives us a tremendous opportunity to be a part of a growing company for years to come.”