CamBar stays the course after Hagemeyer acquisition

By Staff -- Industrial Distribution, 11/1/2000

Charleston, S.C.-Now that Cameron & Barkley's employee owners have approved the firm's acquisition by Hagemeyer, N.V., what's in store for the future of this 135-year-old distributorship?

According to CamBar president and CEO Jim Warren, business will continue pretty much as usual, with some added benefits that come from being part of a worldwide, public company.

"From an operational standpoint, it will be transparent to our people," said Warren, who will remain president & CEO of Cameron & Barkley, a wholly owned subsidiary of Hagemeyer P.P.S. North America. "It's really a chance to align ourselves with somebody who has like-minded strategies and business goals ... So far, it's a good marriage and offers opportunity for everyone."

In June, Netherlands-based Hagemeyer, N.V., announced its intention to acquire employee-owned Cameron & Barkley. In September, CamBar's employees voted to accept the offer. The purchase price for shares held by the employee-owners was $264 million.

Warren said there have been no major changes at CamBar, and stressed that there have been no layoffs. He added that CamBar is having a good year and will continue its growth and expansion strategy. The difference now is that when pursuing acquisitions, CamBar will turn to Hagemeyer instead of its banker.

"We definitely have more capability today than we did in the past," Warren said, referring to the firm's acquisition plans. "We have a parent who wants us to aggressively pursue our acquisition strategy."

CamBar has made three acquisitions in the last year and a half, increasing coverage mainly in the Southeast and Midwest.

Of course, the shift from being employee-owned to public carries its fair share of uncertainty. Warren said he knows there's some apprehension in the ranks concerning the influence Hagemeyer will have over CamBar. But he added that he's certain any changes will benefit employees and Cameron & Barkley as a whole.

"We're in a better position to achieve our goals than we were in the past," Warren said. "And that's going to benefit our people in the long run."

Hagemeyer is a global distribution group with 17,000 employees, operating in 60 countries around the world. Its U.S. business has increased substantially in the last year with the acquisitions of Houston-based safety distributor Vallen Corp. and Maryland-based Tristate Electrial & Electronics Supply Co.