Crescent Electric Supply to Acquire National Electric Supply
EAST DUBUQUE, Illinois, August 31, 2018 - Crescent Electric Supply Company has signed an agreement to purchase Albuquerque, New Mexico based National Electric Supply Co., Inc. Founded in 1976, National has grown to become a recognized market leader in Albuquerque and Santa Fe, New Mexico. With approximately 40 employees, National serves contractor, industrial and government customers from their two stocking locations. The transaction is scheduled to close on September 1, 2018.
We are thrilled at the opportunity to acquire a company with the reputation, strength and market presence of National Electric”, noted Marty Burbridge, Crescent Electric President and CEO. “Under Crescent ownership, National will continue to operate under the National name and brand with the same employees, suppliers and customers. While Rocky Lawrence, current President and CEO, will be stepping down from National, to focus on his other endeavors, the rest of the leadership team will remain the same. We will leverage our companies’ respective strengths to grow the business.
Speaking of the acquisition, National Electric President and CEO Rocky Lawrence noted, “The joining of National Electric and Crescent Electric gives National an opportunity to grow, extend customer service offerings, offer employees more opportunities, as well as build on mutual core values. I’m excited for the future of National and how the companies can work together to achieve greatness.
National Electric will continue to operate from its current Albuquerque, NM headquarters and customer and supplier contacts will remain unchanged.