NESCO Continues Expansion with Acquisition in Vermont

Needham Electric Supply (NESCO), Canton, Mass., has been on a growth tear, adding to its branch network through both organic expansion and bolt-on acquisitions. Following close on its announcement this week of a new branch in New Hampshire, the company now announces the acquisition of single-loation GTM Electric Supply in St. Albans, Vt.

The addition of GTM Electric Supply brings the company’s totals to six locations in Vermont and 26 branches throughout New England. The GTM Electric location will operate as Needham Electric Supply but will continue to be run by GTM Electric founder Mark Bourbeau as branch manager. Bourbeau started GTM in 1991, serving primarily residential and commercial contractors in Northern Vermont.

“We are pleased to welcome GTM Electric Supply to the Needham Electric team and look forward to working with Mark to expand and strengthen our presence in Vermont,” said Gregory Wilson, president of Needham Electric Supply, in a press release. “The merger will benefit GTM customers by providing greater access to the resources of a larger organization, including $12 million in inventory in our regional distribution center, a fleet of 10 trucks and 24-hour emergency services.”

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish