Crescent Electric Supply Co., East Dubuque, Ill., has signed an agreement to purchase Boise, Idaho-based Interstate Electric Supply (IES). Founded in 1971, IES serves residential and commercial contractors, industrial OEM and MRO, and institutional customers from six stocking branches in Idaho and Oregon. The transaction is scheduled to close on Sept. 30.
In a press release announcing the acquisition Marty Burbridge, Crescent Electric president and CEO, said “We are thrilled at the opportunity to acquire a company with the reputation, strength and market presence of Interstate Electric Supply. Under Crescent ownership, IES will continue to operate under the Interstate Electric Supply name and brand with the same employees, leadership team, suppliers and customers. We will leverage our companies’ respective strengths to grow the business.”
Speaking of the acquisition, IES co-owner Tim Young said, “We evaluated several companies as potential purchasers of IES and chose Crescent due to the similarities in culture and commitment to customer service.” “Our philosophies are very similar,” added IES co-owner Clayton Etcheson. “Our employees will have extensive opportunities for training and professional development, and Crescent has the resources to continue to grow the IES business throughout the region. We will share best practices and learn from each other’s successes.”
Interstate Electric Supply will continue to operate from its current Boise headquarters and customer and supplier contacts will remain unchanged. Crescent Electric Supply, ranked #10 on Electrical Wholesaling’s 2013 Top 200 listing with $1.02 billion in sales, 1,700 employees and 135 locations, has purchased three other companies in the past two years – Lake Electric Supply, Storm Lake, Iowa; McCullough Electric Co., Pittsburgh; and Stoneway Electric Supply, Spokane, Wash.