Sonepar, Charleston, SC, announced that its U.S. subsidiary, Springfield Electric Supply, Springfield, IL, has entered into an agreement to acquire HOLT Electrical Supply, St. Louis, MO. A privately-owned business since 1962, HOLT Electrical Supply is a full-line distributor of electrical products and services to its residential and commercial customers. The company has 80 employees and eight locations in Missouri, The press release said the acquisition builds Springfield’s position in one of its key strategic growth markets. HOLT is expected to record sales revenue of approximately $75 million for 2022.
Rob Taylor, president of Sonepar North America, said in the press release, “HOLT has a great reputation in the St. Louis market. Through the years, Sylvan and Ryan Holtzman have built strong customer relationships and positioned the company and their associates for growth. HOLT is a strategic fit for Springfield as they look to expand across the Midwest.”
Sylvan Holtzman, owner of HOLT Electrical Supply, added in the release, “After 60 years in business, spanning three generations, I am more than excited to say HOLT Electrical Supply will be joining Springfield Electric. With Springfield, HOLT will be able to serve our existing, loyal customers with new capabilities and grow our customer base. I want to thank my father, Sam, and my son, Ryan, along with all the HOLT employees for their devotion and hard work that created this great opportunity. We wouldn’t be here without them.”
The acquisition is expected to close by the end of January.
The St. Louis market has seen quite a bit of acquisition activity over the past few years, including Graybar’s 2021 acquisition of Metro Electric Supply, St. Louis; the 2021 merger of French Gerleman, St. Louis, with IAC Solutions, Memphis, TN; and CED’s 2020 acquisition of Frost Electric Supply, Maryland heights, MO