Graybar plans to acquire Southern California electrical distributor American Electric Supply, company officials announced Thursday.
AES, based in Corona, California, was established in 1984 and serves commercial and industrial customers across five counties in the Los Angeles and San Diego areas. The company will retain its name, staff, locations and suppliers as a Graybar subsidiary.
The deal is pending approval by AES shareholders. Terms of the proposed transaction were not disclosed.
“With its superior customer service, dedicated employees and longstanding presence in Southern California, we believe this acquisition will support Graybar’s ongoing growth in the region,” Graybar Chairman, President and CEO Kathleen Mazzarella said in a statement.
“American Electric Supply and Graybar are a strong fit, sharing similar values and a common commitment to helping customers achieve their long-term goals,” said AES CEO Mike Pratt. “Joining a successful, employee-owned company like Graybar will enhance our capabilities and position us for continued success.”
Graybar’s industrial operations ranked at no. 14 on ID’s latest Big 50 list.
