Sonepar Enters Into an Agreement to Acquire Echo Electric Supply Company
July 30, 2024
Sonepar has announced it has entered into an agreement to acquire Echo Electric Supply Company.
Family-owned and operated since 1950, Echo Electric Supply supplies electrical parts, equipment, and services to contractors in the industrial, commercial, and residential markets and ranked in the top 30 of Electrical Wholesaling’s 2024 list of the largest electrical distributors in North America. Operating in Iowa, Nebraska, Minnesota, South Dakota, and Missouri, Echo Electric will join Sonepar with 23 branch locations and more than 600 associates.
Headquartered in Council Bluffs, Iowa, Echo Electric Supply will be Sonepar’s seventh acquisition in the Midwest in the last three years. It will be joining companies like Springfield Electric, Richards Electric, Pepco, Holt, Sunrise Electric, and most recently Michigan-based Standard and Madison.
Rob Taylor, President of Sonepar Americas, said of the acquisition:
“We welcome Echo Electric associates into Sonepar and look forward to building upon their reputation as the market leader. Echo Electric is an exceptional distributor with excellent technical expertise, particularly in power distribution and wire management to support state-of-the-art data centers. They have an impressive track record of growth, and we’re excited to continue our expansion across the Midwest together.”
Mitch Lane, CEO of Echo Electric, commented:
“I’m enormously proud of Echo Electric’s track record as an independent distributor. Sonepar’s approach of combining global resources with a local strategy tailored to the market was important in our decision to join their well-respected organization. We feel Sonepar is a great cultural and strategic fit. I’m deeply appreciative of our employees’ hard work and dedication over the years and look forward to this new chapter for us.”
The acquisition is scheduled to close by the end of August, subject to regulatory approval.
