It’s been a busy week for Graybar Electric Co., St. Louis. The company completed two acquisitions, with its purchases of Steven Engineering Inc., South San Francisco, CA, a distributor of automation, motion control and pneumatic solutions, and the St. Louis-based St. Louis-based Metro Electric Supply and Metro Lighting, a regional distributor that primarily serves homebuilders and contractors that specialize in residential, commercial and industrial projects.
Steven Engineering was founded in 1975 and has a total of three locations in California and Oregon. As a subsidiary of Graybar, the company will continue to operate under the Steven Engineering name with the same leadership team, employees and suppliers. Bryan Wolfgram is the company’s CEO. Steven Engineering is ranked in the Top 100 on Electrical Wholesaling’s 2021 Top 150 Electrical Distributors ranking, with 115 employees and three locations. Graybar is ranked #3, with approximately $7.2 billion in North American sales, 8,233 employees and 292 locations. Kathleen Mazzarella, Graybar’s chairman, president and CEO, said Steven Engineering will strengthen Graybar’s position in the industrial automation business.
Metro Electric Supply, which is also a retailer of lighting products, was founded in 1967 and operates fourteen locations across the St. Louis region, including eight electrical supply locations and six lighting showrooms. As a subsidiary of Graybar, the company will continue to operate under the Metro Electric Supply and Metro Lighting brand with the same employees, leadership team and suppliers.
“In planning for our future, one of our family’s top priorities was ensuring Metro would continue to remain locally owned and operated,” said Bill Frisella, owner of Metro in the press release. “We are excited for this new chapter in our company’s history, and we believe that being part of Graybar gives us a tremendous opportunity to grow and thrive for years to come.”
Metro Electric Supply was ranked #122 on Electrical Wholesaling’s Top 150 ranking.
Graybar has been active in the acquisition game over the past year. Earlier this year it acquired Shingle & Gibb Automation, Moorestown, NJ, and Richmond Electrical Supply, Richmond, KY, through its Cape Electrical Supply business, and Graybar Canada, Halifax, Nova Scotia, acquired Electro-mag, Sherbrooke, Quebec.
The company recently reported some stellar numbers in its 3Q 2021 results. Its net sales in the third quarter totaled $2.3 billion, a +23.2% gain compared to the same period in 2020. Net income attributable to the quarter was $74.3 million, up +115.4% from the same period last year.
For the first nine months of the year, Graybar reported net sales of $6.45 billion, a +19.1% increase compared to the same period last year. Its net income for the first nine months of the year increased +116.8% to $201.6 million.