Sonepar is proud to announce that the Richards Electric Supply Company acquisition closed on December 31, 2021.
Sonepar has announced that the Richards Electric Supply Company acquisition closed on December 31, 2021. Richards Electric is now officially a member of the Sonepar family.
A family-owned business headquartered in Cincinnati, Ohio, since 1937, Richards Electric will add four branch locations and 150 associates to the Sonepar network. Richards Electric expects to record sales in excess of $125M for 2021.
In the United States, Sonepar operates through a network of electrical, industrial, and utility distributors with over 700 locations and coverage in all 50 states. The Richards Electric acquisition follows Sonepar’s August purchase of Springfield Electric Supply Company in Springfield, Illinois and further builds Sonepar’s presence in the Midwest.
“It’s an exciting time for Sonepar and the Richards Electric team. We are committed to continued growth with the strongest and best regarded electrical distribution companies. Richards Electric is a great fit for our network.” said Rob Taylor, President, Sonepar North America.
Sonepar is an independent family-owned company with global market leadership in B-to-B distribution of electrical products, solutions and related services. Through a dense network of 100 brands spanning 40 countries, the Group has an ambitious transformation agenda to become the first global B-to-B electrical distributor to provide a fully digitalized and synchronized omnichannel experience to all customers. Drawing on the skill and passion of its 45,000 associates, Sonepar had sales of €23 billion in 2020. Sonepar makes its customers’ lives easier, over the counter, visiting customers, by phone or online, – however we’re needed. Sonepar’s ambition is to become “La Référence” - the standard-setter for all its stakeholders. For more information, visit www.sonepar.com