Crescent Electric Supply Co., East Dubuque, Ill., has purchased Lake Electric Supply, Storm Lake, Iowa. Founded in 1967, Lake Electric is a privately owned independent electrical distributor serving a diverse customer base in Storm Lake and the surrounding area. The company will continue to use the Lake Electric name and customers will be served from the current location.
Marty Burbridge, Crescent Electric’s president and CEO, said in a press release announcing the acquisition, “This acquisition expands our market coverage in Iowa and provides an excellent platform for growth. We will leverage the strengths of Crescent, including local inventory supported by more than 130 stocking locations, and Lake Electric’s outstanding reputation for customer service.”
Crescent Electric Supply ranked #11 on EW’s 2012 listing of the Top 200 distributors with $885.4 million in sales and 1,504 employees. The company also recently acquired Stoneway Electric Supply., Spokane, Wash., and Pittsburgh’s McCullough Electric Co.