Border States has reached an agreement to purchase Advance Electrical Supply Co., an electrical wholesale supply leader in Chicago.
Advance has more than 100 employees serving the Chicago area market and will join Border States, an employee-owned company, on April 30. Advance Electrical Supply Co. is owned by Mike Mayworm, executive vice president, and Aaron Hughes, president.
“It’s been awesome to see the success Advance has achieved. We have an incredible group of people and being able to continue to grow at an even faster pace is thrilling,” Mayworm said. “I couldn’t think of doing it with anyone else than Border States.”
“Mike and I are extremely excited to join Border States. We talk a lot about ‘acting like owners’ and to be able to give our team members the ability to be true owners is an incredible opportunity for them,” Hughes said. “Border States embodies what we wanted to become in the future. We are aligned on our values and the way we treat people. Joining Border States is going to accelerate our growth in the Chicago area and assist us in providing an even better customer experience.”
“We are excited to welcome Advance Electrical Supply Co. to our employee-owned company. They are a very successful and well-respected electrical distributor with an outstanding reputation,” said Border States President Jason Seger. “Their proven track record, Chicago presence and potential for growth makes them a perfect geographic addition. More importantly, their values and belief in strong customer service, strong vendor relationships and the desire for employee ownership align well with our culture.”
Advance has achieved double-digit revenue growth, on average, over the past five years with sales generated primarily in the construction market. They will join the east region of Border States, forming the east north central area. Don Masters, executive vice president of the east region, and James Sipe, executive vice president of supply chain, of Border States will lead the integration team.
“In acquisitions, we focus on the people, the leadership team and the culture. Advance has great talent throughout the organization and is managed by a progressive leadership team that has created high engagement and a winning culture — our two companies share similar values and approaches to success,” said Border States CEO David White. “We believe if you take care of each other, customers and vendors, the rest will take care of itself. This is a tremendous fit; we look forward to growing together.”