Fort Worth, TX — The Reynolds Company, a subsidiary of the McNaughton-McKay Electric Company, announced June 24 an agreement, in principle, to acquire, San Antonio-based Mid-Coast Electric Supply, Inc., subject to final definitive agreements. Upon completion, the multi-region electrical distributor will have more than 1,500 employees serving customers from 57 locations in the Midwest, Southeast and South Central areas of the United States. Each company will retain its current operating structure and footprint.
Mid-Coast was founded by Louis Barker in Victoria, Texas in 1968 and has been under the leadership of Tom and Steve Barker since 1993. Mid-Coast is an electrical and automation distributor primarily focused on the industrial markets of South Texas. The company currently has 106 employees and 6 locations.
“It is with much excitement that we welcome Mid-Coast into our employee-owned family. We value the commitment and dedication under the leadership of Tom and Steve Barker, that Mid-Coast has brought to their customers over many years!” said Don Slominski, CEO McNaughton-McKay.
“We have long respected The Reynolds Company and McNaughton-McKay organizations. More recently, we have been watching The Reynolds Company’s and McNaughton-McKay’s relationship evolve and grow over the last three years. Together, they have created an improved value proposition for all of the stakeholders they serve. Steve and I are excited for the entire Mid-Coast team to join this exciting employee-owned company!” said Tom Barker, Mid-Coast CEO.
The transaction is expected to be completed by the end of October.
McNaughton-McKay Electric Company is a 100 percent employee-owned wholesale distributor of electrical products and solutions for the industrial automation, commercial and construction markets. The company was founded in 1910 in Detroit, Michigan. McNaughton-McKay has 27 locations in five states: Georgia, Michigan, Ohio and North and South Carolina, and with additional locations in Germany.
The Reynolds Company is a wholesale distributor of electrical products headquartered in Fort Worth, Texas. For more than 37 years, The Reynolds Company has served the energy, industrial, and construction markets across Texas and Louisiana. The company has 18 locations and exports products globally.