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Kriz-Davis Bolsters Presence in Midwest with Purchase of Russell Belden Electric

May 24, 2013
Kriz-Davis Co., Grand Island, Neb., plans to acquire the Russell Belden Electric Co. (RBE), Joplin, Mo. The acquisition will expand the Kriz-Davis footprint from 13 to 17 locations, broadening the company’s presence in Missouri, Kansas and Oklahoma.

Kriz-Davis Co., Grand Island, Neb., plans to acquire the Russell Belden Electric Co. (RBE), Joplin, Mo. The acquisition will expand the Kriz-Davis footprint from 13 to 17 locations, broadening the company’s presence in Missouri, Kansas and Oklahoma. The deal will be effective July 1.

Russell Belden Electric has been in business for over 80 years. The company was founded by Russell Belden in Dec. 1929. With the legacy and following generations of family ownership by Jack and Scott Belden respectively, the company has four locations in Joplin, Mo., Nevada, Mo., Pittsburg, Kan., and Grove, Okla. Both companies are members of Affiliated Distributors and serve similar customer mixes.

 In a press release announcing the acquisition, Tim Berry, president and CEO of Kriz-Davis Co., said, “Bringing the Russell Belden Electric Co. together with Kriz-Davis Co. and our employee-ownership model is a win-win for both companies. RBE’s culture and marketplace presence was a natural fit. Both companies hold a strong commitment to delivering value to our customers. By combining our strengths, it strategically positions us well for continued growth and to exceed our customers’ future and ever-changing needs. We are very excited to welcome all the RBE associates as the newest members of our employee-owner team and family.”

 Scott Belden, president and CEO of Russell Belden Electric added, “The challenges for small business continue to escalate — capital expansion, HR issues, health insurance costs and succession planning to name a few. A merger with Kriz-Davis, our industry’s pioneer in the employee-owned business model, was the next logical step in the evolution of our 84-year-old company.

The merger will provide opportunity for growth and expansion as well as an avenue for every employee to share in the success of the company.”

Scott Belden will stay on with Kriz-Davis and serve as division manager with responsibility for the four acquired locations. Kriz-Davis is a full-line electrical distributor with a strong focus on the utility market.

Kriz-Davis was ranked #52 on Electrical Wholesaling’s 2012 listing of the Top 200  electrical distributors. According to data submitted for the 2013 listing, the company has 208 employees and 13 locations, not counting the acquisition of Russell Belden Electric. Utility sales account for 43% of  the company’s total revenues, according to that data.

Berry said in his Top 200 response that the company enjoyed some decent growth last year and that he expects business to be good in 2013.

“We enjoyed growth in all of our major market segments in 2012,” he said. “Our diversity regarding the markets we serve certainly contributed to our growth in 2012. Our industrial, commercial-institutional, and construction markets saw the greatest growth percentage. Our utility market remained strong and is also showing nice growth numbers.

“We are not experiencing the economic rebound as portrayed in the media. However, the Midwest did not feel the downturn as severally as other parts of the United States. We are encouraged by the amount of major quote activity and expect single to low double-digit growth for 2013.”