Global electrical distribution giant Rexel, based in Paris with U.S. headquarters in Dallas, said it has reached an agreement to acquire Munro Distributing Co., Fall River, Mass., an electrical products and services distributor specializing in energy efficiency solutions in the eastern U.S. and California.
Rexel said the addition of Munro in a $150 million transaction will significantly reinforce its position in the U.S. as a provider of energy efficiency solutions. The combination of the energy platform within Rexel's Gexpro and Rexel Inc. units and Munro will create an energy efficiency solutions offering of “unrivaled scope in the U.S. market,” said a Rexel release announcing the deal.
Munro will become part of a new Rexel Energy Solutions business led by Rexel Holdings USA executive V.P. and CEO Chris Hartmann. Scott Munro will continue as president and general manager, Brian Munro as V.P.-energy Solutions and Kevin Munro as V.P.-finance.
The addition of Munro Distributing and its team supports Rexel's Energy in Motion company plan “to consolidate its presence in mature markets and accelerate profitable growth in high potential business categories related to energy efficiency.”
The release pointed in particular to Munro's history of energy efficiency solutions and strong partnerships with energy services companies (ESCOs) and utilities. Munro has a significant role in the growing solar power business.
Combined with Rexel's acquisition of Platt Electric Supply in July, Rexel said the purchase of Munro signals the company's continued focus on growth in the U.S. electrical supplies and services market. Munro adds 12 branches in five states — Massachusetts, Rhode Island, New York, New Jersey and California — to the Rexel footprint. For those states, Rexel's website shows six branches in Massachusetts, four in New York and 18 in California.
Munro was founded in 1951 and now employs 185 people generating annual sales of about $150 million this year, according to Rexel, up from the $114 million in 2011 that put Munro on the Electrical Wholesaling Top 200 list at #66.