FARGO, N.D. — Border States announced Friday that it is set to acquire Dominion Electric Supply Company Inc. on May 1, pending regulatory approval.
Dominion was established in 1940 and has grown to more than 300 employees and nine branches in Virginia and Maryland with over $374 million in annual sales. The acquisition will mark a geographic expansion for Border States on the East Coast, and the alignment of the two companies’ values and histories of success make for a great partnership.
“As the largest family-owned and operated electrical distributor in the mid-Atlantic, Dominion is a growth oriented, construction market leader,” said David White, CEO of Border States. “Their core values are exhibited in dedicated service to a loyal customer base and the power of partnership through strong vendor relationships. Employee values underscore the impact people have in shaping Dominion’s excellence, which resonates well with our employee-owned culture.”
Stephen Krooth, CEO of Dominion, looks forward to the transition and the Dominion team coming on board as employee-owners at Border States.
“I am immensely proud of our employees. Throughout our journey, it has been abundantly clear that our greatest strength lies in our people,” Krooth said. “They have continually adapted and evolved alongside the marketplace, catering to the needs of our customers and embracing the evolving trends within our industry."
