Right on the heels of its 25th anniversary celebration, Summit Electric Supply Co., Albuquerque, N.M., added another location in Texas with the purchase of Ideal Electric Supply in Killeen, Texas.
With the acquisition, Summit Electric Supply now has six locations in Texas. The company also has five locations in New Mexico and Arizona.
The acquisition comes after a silver-anniversary celebration that included an associate luncheon at each of its service centers. Employees were presented with a commemorative sterling silver key chain. In addition, associates with 10-plus years of service were invited to a special anniversary event in Albuquerque.
The distributor's customers took part in the anniversary celebration with a special promotion that ran Aug. 15 through Sept. 30. Customers could win airline tickets if they were lucky enough to guess the combination to one of the anniversary prize vaults located on the distributor's counters. Twenty-one customers successfully opened the prize vault lock and won airlines tickets.
Summit Electric has Texas service centers in San Antonio, Austin, Dallas, Fort Worth and El Paso. New Mexico service centers are located in Albuquerque, Farmington, Santa Fe and Los Alamos. Summit also has a location in Phoenix.
Ideal Electric Supply has been in business since 1946 and serves the Killeen/Fort Hood market. The aggregate population is 140,000. Ideal Electric has primarily served the commercial and residential construction market.
“Ideal Electric is a great fit for us in a number of ways,” said Victor Jury Jr., Summit's president. “We have many common lines as well as similar customer service philosophies.”
“This acquisition will serve to fill the South Texas I-35 corridor between our Dallas/Fort Worth and Austin/San Antonio service centers,” said Joe Chesky, Summit's vice president responsible for the Texas region and a key person in the Killeen acquisition.
Summit Electric, with 305 employees and 2001 sales of approximately $136 million, was ranked the nation's 34th largest electrical distributor, according to Electrical Wholesaling's 250 Biggest issue.
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