Sonepar North America agreed to buy Warren del Caribe, which has operations in Puerto Rico, the Dominican Republic, Trinidad and Tobago, and an office in Miami. The deal is expected to close this week.
Warren del Caribe was put up for sale after Warren Electric, Houston, filed for bankruptcy protection in October 2002. Summit Electric Supply bought the domestic operating assets of Warren Electric in December 2002.
Warren del Caribe, with five locations, had annual sales of about $31.5 million in 2001, according to Richard Worthy, president and CEO of Sonepar North America.
The acquisition will give Sonepar North America authorization for the Allen-Bradley Area of Primary Responsibility (APR) for five locations in the Caribbean and expand Sonepar's presence in the pharmaceutical and petrochemical industries.
Worthy said the acquisition plays to Sonepar's existing strength in the pharmaceuticals market through its Fromm Electric of Piscataway operation. Fromm Electric works directly with the home offices and production facilities of the many pharmaceutical companies based in New Jersey and Pennsylvania, and Worthy said these established relationships will be a value-added service the company can offer to pharmaceutical customers now being served by the branches Sonepar intends to acquire from Warren del Caribe.
In other acquisition news, Sonepar USA, Berwyn, Pa., completed two acquisitions. Viking Electric Supply Inc., St. Paul, Minn., completed the purchase of Lake Shore Lighting in Green Bay, Wis. Cooper Electric Supply, Tinton Falls, N.J., bought Levitan-Robbins, New York City.