PHILADELPHIA -- Sonepar USA, a subsidiary of the privately-held Sonepar Group, signed an agreement to acquire Independent Electric Supply, Inc. (IES), headquartered in San Carlos, Calif.
Founded in 1976, Independent Electric Supply is a $400 million electrical distributor operating out of 24 branches in the Northern California area, San Francisco Bay area, Central Valley, Central Coast and Southern California, including one location in Tempe, Ariz. IES holds a strong position as one of the top 20 electrical distributors in the United States, with specialty division houses such as Independent Power System (IPS) and Independent Utility Supply (IUS).
Dave Gabriel, CEO of Sonepar USA, said, "This strategic acquisition provides an opportunity for Sonepar USA to expand its presence through one of the strongest regional distributors in the California market."
Gabriel added, "Independent Electric Supply is a company whose organization and employee base exemplifies Sonepar's most critical characteristics of a customer-centric organization with strong local leadership and local brands."
Paul Klasing, President of Sonepar USA, said, "We feel there is a solid cultural and business fit between our operations, and we look forward to working together with the associates and management team at IES who will continue to operate under the leadership of Ron Snow, Chief Executive Officer and Tom Massip, President."
Ron Snow of IES said, "We are very excited about joining the Sonepar team. Sonepar will enable Independent Electric Supply to expand our growth into other markets, which is consistent with our growth strategies."
IES' Tom Massip said he agrees. "It's a great opportunity for our employees to become a part of a vigorous, growth-oriented organization. As is a characteristic of all acquisitions Sonepar has made over the years, we will continue to operate and market ourselves with our existing management team in place and will remain known in the markets we have served for 35+ years as Independent Electric Supply."