LAB Development LLC, Highland Park, Ill., agreed to purchase the assets of Classic Electric Supply Inc., Forest Park, Ill.
Classic Electric Supply is a single-location electrical distributor who has been serving small- to mid-sized electrical contractors in the greater Chicagoland area for more than 25 years. LAB Development is owned and operated by industry veterans David Rosenstein and Steve Abrams. Rosenstein was formerly the president and CEO of Brook Electrical Distribution Co., Lincolnshire, Ill. Abrams spent the last nine years at Brook Electrical Distribution as COO.
LAB plans to move Classic Electric Supply into a new distribution center in early September and revamp the company’s name and corporate image. In addition, the company has made an agreement to join Affiliated Distributors and will pursue membership in NAED.
“We are very excited about the opportunity to build upon and grow a new business in a geography that is familiar to us,” said Rosenstein. “While we are certainly entering a crowded market, we are confident in our ability to add value to our clients through operational excellence, well-trained and motivated associates, and a basket of products and flexible services that uniquely meets their needs.”