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Photo 226496518 / Mohd Izzuan Ros / Dreamstime
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Photo 226496518 / Mohd Izzuan Ros / Dreamstime
Photo 226496518 / Mohd Izzuan Ros / Dreamstime
Photo 226496518 /Mohd Izzuan Ros / Dreamstime
Photo 226496518 / Mohd Izuan Ros / Dreamstime
Photo_226496518 Mohd Izzuan / Ros /Dreamstime

WinWholesale to buy Noland, expand presence in the East

May 1, 2005
WinWholesale, an equity partner in more than 400 distributors in channels that include electrical, plumbing and heating, air conditioning, and industrial

WinWholesale, an equity partner in more than 400 distributors in channels that include electrical, plumbing and heating, air conditioning, and industrial PVF, has agreed to buy Noland Co., a distributor of electrical, plumbing, air conditioning, water systems and industrial products, for $74 per share.

WinWholesale plans to take Noland private and delist it from the NASDAQ stock exchange. Noland said its board unanimously recommended shareholders accept WinWholesale's offer, which represents a 52 percent premium over the closing price of Noland shares on April 11.

Noland Co. ranked No. 88 on Electrical Wholesaling's most recent “Top 200” with $59.2 million in electrical sales. Noland operates 101 branches in 13 states, primarily in the South, and has approximately 1,400 employees.

Winlectric, the electrical-supply segment of WinWholesale, was the subject of Electrical Wholesaling's July 2003 cover story. With more than $106 million in 2003 electrical sales, Winlectric is ranked No. 42 on EW's most recent “Top 200.” Winlectric has 53 locations in 20 states, according to data sent for EW's 2005 Top 200 survey.

The acquisition would give WinWholesale a foothold in the Southeast and access to two new states — Virginia and West Virginia. It also would give WinWholesale a stronger presence in North Carolina and Pennsylvania, said Bruce Anderson, a spokesperson for WinWholesale and Winlectric.