Dunes Point Capital, Rye, NY, has acquired Warshaw Supply, Ridgewood, NY, a supplier of electrical products for commercial and multi-family end markets. Warshaw’s brands include South Conduit, Global Manufacturing, Aly Cable and Nav-Tech. Warshaw has four facilities in New York; Hauppauge, NY; and Allentown, PA and employs approximately 80 people.
According to Warshaw’s website, www.warshawinc.com, the company was founded more than 40 years ago by Bob Warshaw to provide electrical/data-com products and has grown over the years into a full-service agency handling both commodity and specification manufacturers. The company has two facilities – a 100,000-sq-ft headquarters and warehouse in Ridgewood, NY, and a new 45,000-sq-ft location in Piscataway, NJ.
“Almost every electrical distributor in our territory is purchasing one or another of our products,” Warshaw said on its website. “Most of our business is transacted through the electrical supply houses in New York and New Jersey, both independents and the chains. In addition, we regularly call on specifying engineers in our territory. We regularly register specifications for projects throughout the country and overseas.
“We serve such organizations as National Grid, Consolidated Edison Co. of New York, Public Service Gas and Electric of New Jersey, General Public Utilities, Niagara Mohawk, Metropolitan Transit Authority, Port Authority of New York/New Jersey, engineering contractors, export houses and government agencies.”
“Our sales force consists of five inside reps and four outside salespeople. We work out of our 100,000 sq. ft. office and warehouse complex in Ridgewood, Queens, concentrating our sales efforts toward the end user, the specifier and the electrical wholesale distributor."
Dunes Point Capital Fund III, provided the controlling equity for the transaction. The debt for the transaction was provided by M&T Bank. Polsinelli PC served as legal advisor to DPC, and Alvarez & Marsal Transaction Advisory Group served as financial advisor to DPC. Ridge Advisory served as financial advisor to Warshaw and McKinnon Bookhout Partners ,Chicago, advised Dunes Point Capital in the acquisition of Warshaw, the first acquisition in a platform build in the electrical products space.