Sonepar to Add Madison Electric and Standard Electric in Michigan

Two days after announcing its “Purpose” initiatives, electrical products distribution giant Sonepar announced a major acquisition for its U.S.-based operations.

Sonepar is set to acquire Madison Electric Company and Standard Electric Company — two Michigan-based distributors that have a combined 36 locations across the state and approximately $400 million in 2023 revenue.

Madison Electric is based in Warren, MI and began operating in 1914, while Standard Electric began operating in 1919 and is based in Saginaw, MI. Combined, they have over 550 associates. Both are family-owned distributors of electrical and industrial products and services to contractor and industrial customers — selling and servicing the HVAC and plumbing markets.

“Madison and Standard have achieved a position as one of the leaders within the 10th largest electrical distribution market in the U.S.,” Sonepar Americas President Rob Taylor said in a March 20 news release. “They have an outstanding reputation across Michigan built on lasting customer relationships and have positioned the business and their associates for long-term growth. These companies fit strategically within Sonepar’s Midwest footprint and have a strong culture with talented associates that we welcome to the team.”

Sonepar said the combined acquisition is expected to close by the end of April, pending regulatory review.

Podcast: Scott Schuenke on Sonepar’s Growth & Strategic Development (June 2023)

Brett Schneider, President of Madison Electric, and Bill Gray, President of Standard Electric, said in a joint statement:

“Currently run by the fourth generation of our family, we are incredibly proud of our combined 200+ years of history and achievement in the electrical distribution business,” Madison Electric President The expertise of our associates, the loyalty of our customers, and the partnerships with our suppliers have brought us to this moment. We are excited about the ways in which our companies will grow with additional Sonepar capabilities, resources, and investments. We chose them because of their alignment to our own culture, values, and belief in our potential. We look forward to the next chapter for our associates, and for Sonepar, as we bring their great company into Michigan.” 

In reporting its 2023 financial figures on March 12, Paris, France-based Sonepar posted 2023 global sales of $36 billion, with $13 billion in the U.S.

Sonepar completed 13 acquisitions during 2013 — primarily in the U.S. — representing 1,143 added associates. Those acquisitions generated about $1.09 billion in combined annual sales.

Having first entered the U.S. in 1998, Sonepar now has a network of nearly 500 locations nationwide, backed by 11,000 associates.

On MDM’s 2023 Top Distributors Lists, Sonepar’s North American operations charted at No. 2 for electrical, data and security products distributors.

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