Hagemeyer China, a unit of Sonepar, announced that it acquired Huge Electric Equipment at the end of the last quarter. Huge Electric is a low-voltage distributor located in Shanghai, primarily serving panel builders and industrial original equipment manufacturer (OEM) customers.
Huge Electric has been operating for almost 17 years in the market, with three locations in Shanghai. The company is the key distributor of Schneider Electric power distribution products in the Shanghai region.
Huge Electric is now operating under the “Hagemeyer China” name as its Shanghai sales branch. The company remains focused on the Shanghai panel builder market under leadership of General Manager Lu Zhiping.
The acquisition makes Hagemeyer China a key partner of Schneider Electric in the Shanghai power distribution market, with a sizable market share across East China, according to a Sonepar release.
Paris-based Sonepar, 100-percent family-owned, is one of the largest electrical distributors in the world with 34,000 employees in 34 countries and about $17 billion in annual revenues. It has been building its operations in China since 2000, organized under the Hagemeyer China and Sonepar China groups. Asia accounts for about 1.3 percent of the company's annual sales.