The Reynolds Co., Fort Worth, TX, a subsidiary of the McNaughton-McKay Electric Co., announced an agreement in principle on June 24, to acquire, San Antonio, TX-based Mid-Coast Electric Supply Inc., subject to final definitive agreements.
According to a post on LinkedIn, upon completion, the multi-region McNaughton-McKay will have more than 1,500 employees serving customers from 57 locations in the Midwest, Southeast and South Central areas of the United States. Each company will retain its current operating structure and footprint.
Mid-Coast Electric was founded by Louis Barker in Victoria, TX, in 1968 and has been under the leadership of Tom and Steve Barker since 1993. The company is an electrical and automation distributor primarily focused on the industrial markets of south Texas. It currently has 106 employees and six locations and is ranked #97 on Electrical Wholesaling’s 2021 Top 150 ranking of the largest electrical distributors in North America. McNaughton McNaughton-McKay is ranked #8 on EW’s Top 150 listing.
“It’s with much excitement that we welcome Mid-Coast into our employee-owned family. We value the commitment and dedication under the leadership of Tom and Steve Barker, that Mid-Coast has brought to their customers over many years,” Don Slominski, CEO, McNaughton-McKay, said in the post on LinkedIn.
“We have long respected The Reynolds Co. and McNaughton-McKay organizations,” said Tom Barker, CEO Mid-Coast Electric Supply, in the post. “More recently, we have been watching The Reynolds Co.’s and McNaughton-McKay’s relationship evolve and grow over the last three years. Together, they have created an improved value proposition for all of the stakeholders they serve. Steve and I are excited for the entire Mid-Coast team to join this exciting employee-owned company,”
The transaction is expected to be completed by the end of October.
McNaughton-McKay Electric Co. is a 100% employee-owned wholesale distributor of electrical products and solutions for the industrial automation, commercial and construction markets. The company was founded in 1910 in Detroit, MI. Focused on best in class products, innovative industry solutions, and superior customer service, McNaughton-McKay has 27 locations in five states: Georgia, Michigan, Ohio and North and South Carolina, and with additional locations in Germany.
For more than 37 years, The Reynolds Co. has served the energy, industrial, and construction markets across Texas and Louisiana. The company has 18 locations and exports products globally.