IMARK Electrical Distributors Approve Merger

IMARK Electrical’s shareholders voted overwhelmingly in favor of the proposal to merge with AD on July 8.

The transaction is currently scheduled to close later this year, subject to the satisfaction of customary closing conditions. AD and IMARK Electrical jointly announced their intent to merge in early June.

The two marketing groups said in the press release that the merger signifies the strengthening of the independent electrical channel and that both IMARK Electrical and AD are excited about the anticipated benefits the merger will bring to Independents and the supplier community.

Bob Smith, CEO and president IMARK Electrical, said in the release, “Industry response to the merger announcement has been universally positive within the AD and IMARK Electrical distributor communities and within the electrical supplier community. This is absolutely seen as ‘the right move at the right time’ and the vote reflected that. We’re excited about building the future AD Independent Electrical Supply Division and appreciate our mutual Boards’ strategic input and guidance throughout this process.”

Commenting on the vote, John Thompson, CEO First Electric Supply and  chairman of the IMARK Electrical Board, said in the press release, “In talking to fellow IMARK Electrical members, we feel strongly that this merger will combine the best of both organizations and deliver positive results that will strengthen both AD and IMARK Electrical members and suppliers for years to come. We’re looking forward to closing the merger later this year and to officially joining the AD community.”