Expanding its San Francisco Bay area presence, northern California industrial distributor Buckles-Smith Electric Co., San Jose, Calif., has signed an agreement to acquire Electrical Materials Inc., Palo Alto, Calif.
Buckles-Smith, with four locations in northern California, does approximately $40 million to $45 million in sales per year. Buckles-Smith is listed among the top 150 on Electrical Wholesaling magazine's “250 Biggest” listing.
Electrical Materials, a one-house distributor, shares with Buckles-Smith an emphasis on the industrial MRO and OEM market.
Art Cook, president of Buckles-Smith, said that the primary reason for the acquisition was to give his company a physical foothold in the San Francisco Bay peninsula. Cook said that although Buckles-Smith has had customers in the peninsula, this acquisition will help the company capture more of that market, as well as better serve its customers in that area.
Craig Kelsey, current president and chief executive officer of Electrical Materials, will join the senior management team at Buckles-Smith.
Cook said Electrical Materials would not immediately change its name.