Crescent Electric expands in Iowa with purchase of Lake Electric Supply
Crescent Electric Supply Co., East Dubuque, Ill., has purchased Lake Electric Supply, Storm Lake, Iowa. Founded in 1967, Lake Electric is a privately owned independent electrical distributor serving a diverse customer base in Storm Lake and the surrounding area. The company will continue to use the Lake Electric name and customers will be served from the current location.
Marty Burbridge, Crescent Electric’s president and CEO said in a press release announcing the acquisition, “This acquisition expands our market coverage in Iowa and provides an excellent platform for growth. We will leverage the strengths of Crescent, including local inventory supported by more than 130 stocking locations, and Lake Electric’s outstanding reputation for customer service.”
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Jim Lucy Blog
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Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.