Surging with a fresh infusion of financing from its new parent, Eagle Electric Supply Co., Inc., acquired four New England branches from All-Phase Electric Supply Co.
Eagle Electric, based in Norwood, Mass., will acquire All-Phase's branches in Providence, R.I., and Worcester, New Bedford and Walpole, Mass. The four branches have about 80 employees altogether. The additional branches will boost Eagle Electric's revenue beyond $100 million in 1999, says Tom Golding, president.
The acquisition is the first addition to its new U.S. platform company for Sonepar Distribution US, Reading, Pa., the new U.S. base of operations for Sonepar SA, Paris, France, which purchased Eagle Electric last year.
The acquisition of the four branches also gives Eagle Electric the Allen-Bradley Area of Primary Responsibility (APR) for Worcester and Bristol counties in Massachusetts and the state of Rhode Island. All four branches will operate under the Eagle Electric Supply name.
All-Phase, Benton Harbor, Mich., continues to operate its location in Hartford, Conn. Ken Renwick, president of All-Phase, declined to comment on why All-Phase is selling the four other New England branches. He says All-Phase does not plan to sell any other branches.
All-Phase has been quiet on the acquisition front lately, but Renwick says the company has produced strong internal growth, and has increased its inside and outside sales forces by more than 50%. He added that the company is considering an expansion of its activities in the Hartford area.