In a move that will further solidify its growing presence in the United States, Hagemeyer NV, Naarden, Netherlands, and one of its North American electrical distributors, Cameron & Barkley Co. (CamBar), Charleston, S.C., announced plans to acquire Briggs-Weaver, Coppell, Texas.
“This transaction is in line with our strategy to create a premier North American value-added business-to-business industrial services group,” said Hagemeyer North American President David Gundling. “The alliance of Briggs-Weaver and Hagemeyer has great potential.”
Both companies focus heavily on integrated supply. Briggs-Weaver, a well-known company in the industrial distribution market, was formerly owned by Sammons Enterprises Inc., Dallas. Frank Lynn, chairman and founder of the consultant group Frank Lynn & Associates, Chicago, described the company as a traditional industrial supply distributor.
“They're what probably you'd call an old-line industrial distributor. (They carry) cutting tools, and grinding wheels and all the industrial-type supplies that a traditional industrial distributor sells,” he said.
Briggs-Weaver has 18 locations throughout the South and Southwest. The company carries more than 120,000 products and represents more than 1,500 manufacturers.
With $336.7 million in 2000 sales, according to Hoover's Online, CamBar is one of the largest companies in Hagemeyer North America's Professional Products and Services Group, which has annual sales of $1.5 billion.
The acquisition will be a major addition to the company's North American distribution network, Lynn added.