Hagemeyer Expands Electrical Business In Carolinas With Purchase Of Bryant Electric

Expanding its electrical business in the Charlotte, N.C., area, Hagemeyer North America has acquired Bryant Electric Supply Co. Inc., Lowell, N.C. Bryant will be merged with Hagemeyer’s Carolinas business unit. The transaction was expected to close at press time on Aug. 31.

Bryant Electric Supply will continue to operate under the same name. Harry Bryant Jr., president of Bryant Electric Supply, will remain with the company as director of customer development. Randy McCurry will continue to manage the operations.

“We are truly excited that Harry will continue to lead his organization as we invest and grow in the Charlotte market,” said Chris Union, executive vice president/general manager of Hagemeyer’s C&I. “Harry’s influence and relationships are a key part of this growth. As you know, the Bryant name is recognized throughout this area and has earned great respect and loyalty from many customers.”

With 104 employees, five branches and $50 million in annual revenue, 60-year-old Bryant Electric Supply ranks as the nation’s 145th largest electrical distributor, according to Electrical Wholesaling magazine’s 2007 Top 200 listing. The company has branches in Charlotte, Laurinburg, Lowell, Hickory, N.C., and Rock Hill, S.C.

Hagemeyer North America, with approximately $525 million in electrical revenues, 900 electrical employees and 48 electrical branches, is the nation’s 15th largest electrical distributor, according to EW.

Hagemeyer already has a location in Charlotte that focuses on industrial and safety supplies, said Union. Hagemeyer has locations in almost every major city in the Carolinas, he said, including Asheville, Charlotte, Fayetteville, Greensboro, Greenville, Raleigh and Wilmington.

Hagemeyer plans to keep all of Bryant Electric’s branches open. In fact, the company plans to expand the presence of Bryant in the Charlotte market by opening new locations and adding new salespeople, said Hagemeyer’s Union.

“We’re excited to be teaming up with Bryant to further penetrate the growing Charlotte market,” says Dave Gabriel, CEO of Hagemeyer North America. “This further strengthens Hagemeyer’s commitment to growing our U.S. electrical business, building local market density and serving the MRO and contractor and installer markets, all of which are consistent with our long-term growth strategy. Bryant’s strong history and market penetration coupled with Hagemeyer’s national and global strength makes this an ideal opportunity for us both and for our customers.”

Bryant Electric Supply is predominantly active in the industrial segment, but also serves the construction and installation market, mainly non-residential. The merger supports Hagemeyer’s vision to expand and enhance its electrical market penetration in the Southeastern United States.

“We have had numerous opportunities during the 60 years of our existence to partner with another company,” said Bryant. “Until now we never found a partner that shared the same values for our employees and our customers. Hagemeyer shares those values and we are delighted to become part of the Hagemeyer team.”