Sonepar entered into an agreement to acquire Summit Electric Supply, Albuquerque, NM., #22 on Electrical Wholesaling’s 2024 Top 100 listing.
Founded in 1977, Summit Electric Supply supplies electrical products and services to a diverse customer base of contractors in the industrial, commercial, energy, and marine segments throughout Arizona, New Mexico, Texas and Louisiana. The company has 23 branch locations and more than 700 associates.
Rob Taylor, President of Sonepar Americas, said in the press release, “This acquisition represents the best of both worlds. Not only do we increase our size in Texas, the second largest electrical market in the United States, and Louisiana, but we’re also expanding our presence in adjacent markets in the Southwest. Summit Electric Supply has an extensive product offering and specialized knowledge, in addition to a long track record as a trusted partner to contractors and leading electrical equipment suppliers. We look forward to Summit’s associates joining the Sonepar family.”
“Sonepar has a proven track record of supporting market expansion, company culture, operating style and brand identity of the companies they acquire,” said Ed Gerber, CEO of Summit Electric Supply. “Coupled with their resources and investments in digital and supply chain as well as career development for our associates, it’s clear that Sonepar is the right fit and best positions Summit for continued long-term accelerated growth. I am deeply grateful for our talented associates that made our incredible growth trajectory and success possible over the years. We are thrilled to join the Sonepar family and look forward to what this next chapter will bring.”
The acquisition is scheduled to close by the end of September, subject to regulatory approval.
Summit supports contractors in the industrial, commercial, energy and marine segments through operating divisions centered on services and solutions; engineering, procurement and construction (EP&C) and industrial marine solutions.
Sonepar’s global sales hit approximately $36 billion in 2023. The company has operations in 40 countries and has 45,000 employees worldwide.
Sonepar entered the U.S. market in 1998 and has continued to grow due to strategic acquisitions and organic growth. Today, Sonepar serves the market through a network of companies with over 491 locations nationwide and 11,000 associates.