Crescent Electric Supply Acquires Virginia's Womack Electric Supply

Founded in 1938, Womack has grown from a single location to achieve sales of $100 million in 2016 with its presence in the Virginia and North Carolina markets.

Id 32503 Crescent

EAST DUBUQUE, IL — Crescent Electric Supply Company has completed the purchase of Danville, VA-based Womack Electric Supply.

Founded in 1938, Womack has grown from a single location to achieve sales of $100 million in 2016 with its presence in the Virginia and North Carolina markets. With approximately 150 employees, Womack serves contractor, industrial and government customers from 18 stocking branches in Virginia and North Carolina. The transaction closed on July 31.  
 
“We are thrilled at the opportunity to acquire a company with the reputation, strength and market presence of Womack Electric”, noted Marty Burbridge, Crescent Electric president and CEO. “Under Crescent ownership, Womack will continue to operate under the Womack name and brand with the same employees, leadership team, suppliers and customers.  We will leverage our companies’ respective strengths to grow the business.”

Womack Electric will continue to operate from its current Danville, VA headquarters and customer and supplier contacts will remain unchanged.
 
Speaking of the acquisition, Womack Electric CEO Ray Womack noted, “We searched for the right organization to purchase Womack Electric, one that shared our values and vision. I feel strongly that Crescent Electric is that company. Our cultures are very similar,” Womack continued, “our employees will have extensive opportunities for training and professional development, and Crescent has the resources to continue to grow the Womack business throughout the Southeast. We will share best practices and learn from each other’s successes.”
 

More in Mergers & Acquisitions