Crescent Electric Acquires Lake Electric Supply Company, Strengthens Market Presence in Iowa
EAST DUBUQUE, Illinois, March 4, 2013 — Crescent Electric Supply Company has announced the purchase of Storm Lake, Iowa based Lake Electric Supply. Founded in 1967, Lake Electric is a privately owned independent electrical distributor serving a diverse customer base in Storm Lake and the surrounding area.
Speaking of the acquisition, Marty Burbridge, Crescent Electric's President and CEO commented "This acquisition expands our market coverage in Iowa and provides an excellent platform for growth. We will leverage the strengths of Crescent, including local inventory supported by more than 130 stocking locations, and Lake Electric's outstanding reputation for customer service."
To ensure a smooth transition, the company will continue to use the Lake Electric name and customers will be served from their current location.
About Crescent Electric Supply Company
Based in East Dubuque, Illinois, Crescent Electric Supply Company is one of the nation’s largest independent distributors of electrical hardware and supplies. The company has more than 130 branches in 26 states, serving contractors, original equipment manufacturers (OEM) and the maintenance, repair and operations (MRO) needs of commercial, industrial, institutional, and utility customers. In addition to the Crescent Electric brand, customers are served by BA Supply in Missouri, Interstate Electric Supply in Idaho and Oregon, Mesco Electrical Supply in Ohio, National Electric Supply in New Mexico, Womack Electric Supply in Virginia and North Carolina, and Stoneway Electric in Washington and Idaho.