Hughes Supply Inc. has agreed to acquire two utility distributors for $123.5 million in cash.
Tom Morgan, president and CEO of Hughes Supply, Orlando, said the acquisitions of Southwest Power, Santa Fe Springs, Calif., and Western States Electric, Portland, Ore., would strategically expand the company's utilities business to the western and southwestern regions of the United States and Canada.
Hughes said the two companies share common ownership. Together, they operate 26 branches in 11 U.S. states and British Columbia, and generated about $244 million of revenue in 2003.