Border States announced Wednesday that it has reached an agreement to add Nevada electrical distributor WEDCO.
WEDCO serves the construction and industrial market from its four locations in northern Nevada, along with the region's utility and mining sectors. WEDCO, like Border States, is an employee-owned company, and the transaction — which remains pending — would expand the North Dakota-based company into a new western state.
Terms of the deal were not disclosed.
“We are excited for this opportunity to expand into Nevada and to do so with such an outstanding company — an ESOP, fueled by a great team of employee-owners," Border States President and CEO Jason Seger said in the announcement. “Our coming together represents a great opportunity for the employee-owners of WEDCO, for customers and for vendors.”
“As we work through the process of closing the transaction, it’s exciting to know that our employee-owners will have expanded resources to serve Nevada,” said WEDCO President Rich Stoltz, who also highlighted Border States’ utility and industrial expertise and its existing relationships with contractors in the area.
Border States ranks at no. 20 on ID’s latest Big 50 list.
