Schaedler Yesco Distribution Inc., Harrisburg, Pa., has signed a letter of intent to acquire the assets of Pittsburgh-based Service Electrical Supply Co. Inc.
With headquarters in Pittsburgh and a branch located in New Kensington, Pa., Service Electrical Supply is a full-line distributor of electrical components serving contractors, as well as commercial and industrial accounts, in the greater Pittsburgh marketplace. The company was founded in 1983.
According to Matt Brnik, president of Schaedler Yesco, the acquisition offers Schaedler Yesco a unique opportunity to enter the Pittsburgh market with a “reputable, well-established company possessing solid vendor relationships and an experienced team of people.” He also said moving into western Pennsylvania will allow Schaedler Yesco to build stronger bonds with the manufacturers' reps the company began working with when it opened a branch in State College, Pa., several years ago, and when it acquired B&R Electric in St. Marys, Pa., last fall. “Our success is based on our ability to provide quality products and services to our customer base,” he said. “To do that, we need a strong relationship with the reps we deal with.”
The company got its first taste of the Pittsburgh market several years ago while doing some government business. “It (Pittsburgh) is an interesting mix of customer types that seem to be somewhat shielded from the economic swings we see in other parts of the state,” said Brnik. “We feel very bullish on the Pittsburgh market. We realize that like any other new market, we will have to earn the business that we will get. Fortunately, Service Electrical Supply has a proven track record to build on.
“This market also has some long-standing quality competitors we will be exposed to as well,” Brnik added.
During the past year Schaedler Yesco has made three other acquisitions: the electrical division of H&S Supply of New Oxford, Pa.; and B&R Electric Co. of St. Mary's, Pa. — both late last year — and the Indiana, Pa., branch of Gertz Electric on Aug. 17. Schaedler Yesco ranked No. 82 on Electrical Wholesaling's current Top 200 listing with $92.9 million in 2008 sales.