In a deal that closed Sept. 5, Standard Electric Supply Co., Milwaukee, expanded from six Wisconsin branch locations into Illinois with its purchase of DynaTECH LLC, Elk Grove Village, Ill.
DynaTECH is a distributor of electrical automation products, selling to industrial customers throughout northern Illinois and northwest Indiana. With one location, five employees and annual sales of approximately $4.5 million, DynaTECH was founded in 1993.
Founded in 1919, Standard Electric Supply, a family-owned distributor with 95 employees, was ranked No. 138 on Electrical Wholesaling magazine's 2003 Top 200 listing, with $34.5 million in 2002 sales.
The acquisition is consistent with Standard Electric Supply's strategic plan of growing industrial business, said Larry Stern, the company's president. More than 90 percent of Standard Electric Supply's business comes from the industrial market. The largest share of that business is the sale of components to original equipment manufacturers (OEM).
“With the product lines that they sell and the ones that we already have in Wisconsin, DynaTECH brings great synergies and expands our market area,” said Stern.
All DynaTECH employees will be retained. DynaTECH will be doing business under the name, DynaTECH, a division of Standard Electric Supply.
According to a press release from Standard Electric, incorporating DynaTECH with the resources of Standard Electric Supply will help bring the combined companies' customers better solutions to their automation and electrical needs.