CHARLESTON, S.C. – Sonepar announced Wednesday that its U.S. subsidiary has entered into an agreement to acquire Professional Electric Products Co. Inc., d.b.a. PEPCO.
With a strong presence in Ohio, the acquisition offers Sonepar the opportunity to expand in the 6th largest electrical distribution market in the U.S.
A family-owned business headquartered in Eastlake, Ohio, since 1968, PEPCO will add 10 branch locations and 190 associates in Ohio and Pennsylvania to the Sonepar network in the U.S. PEPCO is expected to record sales revenues of over $300 million for 2022.
“PEPCO’s strong utility and contractor business and geographic footprint in Ohio and Pennsylvania makes this an exciting acquisition for us as we look to expand into new territories,” said Rob Taylor, president of Sonepar North America. “PEPCO’s recent growth is impressive, and we look forward to providing PEPCO associates and customers with further opportunities.”
Joe Borkey, current owner of PEPCO, commented on the acquisition, “We are very proud of what our collective PEPCO team has created. Our dramatic growth and ultimate success story have navigated us to an exciting opportunity with Sonepar," said PEPCO owner Joe Borkey. "My brother, Jeff, and I feel Sonepar is the right partner to ensure the future success of PEPCO and we look forward to the next chapter for our customers and associates as we join the Sonepar network.”
The acquisition is scheduled to close in September.