Sonepar, Charleston, SC, plans to acquire Michigan-based Madison Electric Co., Warren, MI, and Standard Electric Co., Saginaw, MI.
Family-owned and operated since Madison Electric’s founding in 1914, and Standard Electric’s in 1929, Madison and Standard are full-line distributors of electrical and industrial products and services to contractor and industrial customers, and focus on the electrical, HVAC and plumbing markets.
Madison Electric and Standard Electric have more than 550 associates and 36 locations across the state. Combined, Madison Electric and Standard Electric sales were approximately $400 million in 2023. Rob Taylor, president of Sonepar Americas, said in the press release, “Madison and Standard have achieved a position as one of the leaders within the 10th largest electrical distribution market in the United States. They have an outstanding reputation across Michigan built on lasting customer relationships and have positioned the business and their associates for long-term growth. These companies fit strategically within Sonepar’s Midwest footprint and have a strong culture with talented associates that we welcome to the team.”
Brett Schneider, president of Madison Electric, and Bill Gray, president of Standard Electric, said in a joint statement: “Currently run by the fourth generation of our family, we are incredibly proud of our combined 200-plus years of history and achievement in the electrical distribution business.
“We are excited about the ways in which our companies will grow with additional Sonepar capabilities, resources and investments. We chose them because of their alignment to our own culture, values and belief in our potential. We look forward to the next chapter for our associates, and for Sonepar, as we bring the company into Michigan.”
Kris Prebola, VP, Sonepar M&A, Ben Rosenthal, Chief Financial Officer, Standard and Madison Electric, Bill Gray, President of Standard Electric, Brett Schneider, President of Madison Electric, Andy Waring, President, Sonepar Central Region.