Acquisition allows company to establish stronger presence in Ohio, Kentucky, Indiana
DAYTON, Ohio, April 10, 2007 - WinWholesale Inc., one of the nation's largest wholesale distributors, has acquired Ohio-based Tri-State Electric Supply, Inc., a regional distributor of electrical products primarily to commercial and residential electrical contractors. Tri-State has branches in Cincinnati, Columbus and Dayton, Ohio.
Terms of the transaction were not disclosed.
"We're very happy to welcome Tri-State Electric Supply to the Win Group of Companies as we continue to grow WinWholesale," said Rick Schwartz, WinWholesale president and CEO. "It's an excellent company with an established base of loyal customers that allows us to build a stronger presence in the electrical market in Ohio, Kentucky and Indiana."
WinWholesale just completed a record year with $2.6 billion in revenue and opened 16 new locations in 2006, including six in its wholly-owned subsidiary, Noland Company, which mainly serves the southeastern U.S.
Tri-State was founded in Cincinnati in 1984 and had 2006 revenues of $24 million. "Becoming part of WinWholesale is a great opportunity for Tri-State Electric Supply to continue growing the company with one of the best wholesaling organizations in the country and serve our loyal customers while acquiring new ones. Making a move like this is something that's been on the drawing board for a while and now is a reality," said Chuck Niesen, Tri-State president.
About WinWholesale Inc.
WinWholesale Inc. is a leading supplier of domestic and industrial supplies and materials headquartered in Dayton, Ohio. The privately-held company consists of nearly 450 wholesaling corporations in which WinWholesale is an equity partner, and also Noland Company, a wholly-owned subsidiary. Noland is a wholesaler headquartered in Newport News, Va. with more than 100 branches. Collectively, WinWholesale is referred to as "The Win Group of Companies." In the group are companies conducting business-to-business wholesale distribution of plumbing and heating supplies; industrial pipes, valves and fittings; heating, ventilation, air conditioning and refrigeration equipment; electrical equipment; electronics; industrial and commercial fastening hardware; waterworks and utility supplies; and domestic, commercial and industrial pumps.