Hughes Supply Inc., Orlando, has announced a multi-year, strategic partnership with Equity Residential, the largest publicly traded owner, operator and developer of multifamily housing in the United States.
Equity Residential owns or has investments in 922 properties in 32 states and the District of Columbia, consisting of 195,575 units.
We are very excited at the opportunity to work with Equity Residential. Their reputation for quality is well-known throughout the industry,” said Tom Starnes, president, Hughes Supply MRO. “Our partnership will allow Equity Residential to take advantage of our unique buying power, specialty services and customized reporting as well as our friendly, customer service attitude and solid expertise.
With items in 10 different product categories that can be shipped same or next-day, Hughes MRO is able to provide Equity Residential with the products they need quickly and efficiently. Hughes MRO stocks more than 6,000 maintenance products, including plumbing, electrical, appliances, hardware, window coverings, HVAC, janitorial and lawn and garden.
Hughes MRO’s catalog showcases products, monthly specials, custom invoicing, 10 fabrication centers, 14 regional customer care centers, quick fax ordering, and a dedicated team of renovation specialists.
Hughes, with more than 500 locations in 40 states, made more than $123 million last year on sales of $4.42 billion. The company’s electrical division ranked eighth on Electrical Wholesaling magazine’s Top 200 Electrical Distributors listing in 2005. The electrical business accounted for about 10 percent of Hughes’ 2005 overall sales.
Hughes recently posted a 35 percent increase in third quarter net income, helped by strong demand for its construction, repair and maintenance related products.
Net sales rose to $1.49 billion from last year’s $1.17 billion. Net income rose 35 percent to $45.7 million from $33.8 million a year earlier.