Electrical supplier acquires company
An electrical supplier in the region has acquired an out-of-state company in the same field.
Portage-based Kendall Electric purchased Dayton, Ohio-based Becker Electric Supply, a family-owned business, according to the investment bank ArkMalibu.
ArkMalibu served as financial advisor to Becker Electric in the transaction.
Terms of the deal were not disclosed.
The owners of Becker Electric were approached by several parties and then made the decision to “hold discussions with several others” about an acquisition of Becker Electric.
The family sought an acquirer that ensured long-term stability, continued growth and a similar employee-oriented corporate culture to drive success for Becker Electric’s customers, employees and suppliers.
Kendall Electric is 100-percent employee-owned, serving the industrial, OEM and construction markets since 1930.
“We are thrilled with our decision to trust ArkMalibu to lead the M&A process for Becker Electric,” said Tom Becker, CEO, Becker Electric. “In the end, we couldn’t be happier to have secured a great deal for the company with a well-respected long-term partner in Kendall Electric.”
Prior to the sale, the Becker Electric was in its third generation of family ownership.
Founded in 1920 by John Adam Becker, Becker Electric serves contractor, industrial and commercial customers through eight locations across Ohio, Indiana and Georgia.