St. Louis-based electrical and industrial distributor Graybar on Tuesday announced an agreement to acquire Valin Corporation, a Bay Area distributor of automation and process control products.
Graybar officials highlighted Valin’s solutions across the technology, energy, transportation and life sciences sectors. The company is headquartered in San Jose and operates a total of 12 locations across the West and Southwest; it will continue to operate under the Valin name and retain its executive team, workforce and suppliers.
Graybar executives said the deal would particularly bolster its automation operations.
“As Graybar expands its industrial automation platform, Valin’s portfolio of products, solutions and technical resources complements our existing capabilities and provides a foundation for growth into new markets,” Graybar Chairman, President and CEO Kathleen Mazzarella said in a statement.
Terms of the acquisition were not disclosed; the deal is expected to close May 1, subject to customary closing conditions.
The announcement came one day after Graybar announced “record” financial results for the first quarter of 2023. The company said net sales rose 12.2% compared to the same quarter last year to $2.7 billion, while net income attributed to Graybar rose 22.1% to $124.8 million year-over-year.
Graybar’s industrial operations came in at no. 15 on ID’s latest Big 50 list.
