Border States Electric (BSE), Fargo, N.D., has agreed to purchase Shealy Electrical Wholesalers, Greenville, S.C., with 17 locations throughout North and South Carolina. Shealy will join BSE August 1, pending regulatory approval.
Border States said it will establish new southeast region headquarters in Columbia, South Carolina, with David White, Shealy president, serving as the region vice president. Shealy will continue to be led by current Shealy CEO Bill DeLoache, along with Brent Spear, COO, and White, president. The name will change to Shealy Electrical Wholesalers, a division of Border States.
BSE will establish a new southeast region with White serving as the region vice president. The regional corporate office will be in Columbia, South Carolina.
“We spent a lot of time looking at different leadership and ownership transition options, keeping in mind what would be best for our customers, employees and supplier partners,” said Bill DeLoache, Shealy CEO. “After much consideration, we concluded that an employee stock ownership plan (ESOP) best met these objectives. Border States is a great distributor and an established, top-performing ESOP company.”