Global electrical distribution giant Rexel, based in Paris with U.S. headquarters in Dallas, said it has reached an agreement to acquire Munro Distributing Co., Fall River, Mass., an innovative electrical products and services distributor specializing in energy efficiency solutions in the Eastern U.S. and California.
Rexel said the addition of Munro in a $150 million transaction will significantly reinforce its position in the U.S. as a provider of energy efficiency solutions. The combination of the energy platform within Rexel's Gexpro and Rexel Inc. units and Munro will create an energy efficiency solutions offering of "unrivaled scope in the U.S. market."
Munro will become part of a new Rexel Energy Solutions business led by Rexel Holdings USA executive VP and CEO Chris Hartmann. Scott Munro will continue as president and general manager, Brian Munro as VP-Energy Solutions and Kevin Munro as VP-Finance.
Here's Rexel's press release.
More to come.