Hughes Supply Inc., Orlando, Fla., has expanded into Las Vegas with the acquisition of Standard Wholesale Supply Co., a distributor of waterworks, electrical and plumbing products.
Standard Wholesale Supply generated sales of approximately $73 million in its latest fiscal year ended Dec. 31, 2003, and has 90 employees. About one-fourth of Standard Wholesale Supply's business is electrical. Approximately 60 percent of the company's sales are geared toward waterworks and sewer construction, and 15 percent of the business is plumbing.
The company's waterworks, electrical and plumbing segments serve the residential and infrastructure new construction markets in the Las Vegas area. In addition to electrical supplies, the company sells pipes, hydrants and valves, street lights, wire and cable and fixtures.
The acquisition is the first venture by Hughes Supply's electrical business into the western states. Before the acquisition, Hughes Supply's electrical business had operations as far west as Texas.
Tom Morgan, president and CEO of Hughes Supply, said, “The acquisition of Standard Wholesale Supply accelerates our geographic expansion into the very attractive market of Las Vegas, the fastest-growing city in the country. In addition, the company's long history of providing the highest level of service possible to the customer, along with quality products, is well-aligned with the Hughes culture.”
Gary Crowe, president of Standard Wholesale Supply Co., and Russ Soderquist, general manager, will remain with the company after the acquisition.
Hughes Supply distributes construction, repair and maintenance-related products through 486 locations in 38 states. Hughes employs about 8,400 associates and generates annual revenues of over $3 billion.
Hughes Supply plans to change Standard Wholesale's name to Hughes by the end of the year, according to a company spokesperson.