Springfield_Electric_Acquisition

Springfield Signs Letter of Intent to Buy Hannan Supply Co.’s Owensboro, KY, Branch

This is Springfield Electric's third acquisition in 2018.

Springfield Electric Supply Co., Springfield, IL, and Hannan Supply Co., Owensboro, KY, have signed a letter of intent under which Springfield Electric will purchase the assets of Hannan Supply’s Owensboro, KY location only.

“We look forward to adding this new location in western Kentucky,” said Chris Scarbrough, Springfield Electric CEO, in the press release. “The Owensboro location will add opportunity for growth, supported by our recent acquisitions in southern Indiana. The recent acquisitions are elements of our vision for growth. These are exciting times.”

Bruce Brockenborough, CEO, Hannan Supply Co. CEO, added in the release, “As we transition out of the market, I am excited for the opportunity afforded our Owensboro team.  They deserve the best and Springfield is truly a world-class operator.  This transaction places great people with a great company, and allows Hannan to focus more intently on its Paducah, Hopkinsville and Calvert City markets.”

The Owensboro location name will change to Springfield Electric Supply Co.   Last month, Springfield Electric Supply announced the purchase of Valley Electric Supply, an electrical wholesaler in southwestern Indiana with locations in Vincennes and Terre Haute, IN, and earlier this year, Springfield Electric announced the purchase of Tri-State Lighting & Supply, Evansville, IN.

Springfield Electric Supply is ranked #50 on Electrical Wholesaling's listing of the 200 largest electrical distributors in North America with $175 million in 2017 sales and 300 employees.

 

TAGS: Kentucky
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