Crescent Electric Supply, East Dubuque, IL, acquired Lowe Electric Supply Co., Macon, GA. Financial terms of the deal were not disclosed. Lowe serves customers out of 13 locations across Georgia and South Carolina. Prior to this deal, Crescent Electric Supply operated out of more than 140 branches in 26 states, however, it did not have any branches or employees in Georgia or South Carolina. Combined, the company will operate out of more than 150 branches located in 28 states nationwide.
“Lowe Electric Supply is well known and highly regarded throughout Georgia and South Carolina, and we welcome them to Team Crescent,” said Scott Teerlinck, Crescent’s president and chief executive officer in the press release.
Lowe Electric Supply will continue to operate under its founder-led management team and be supported by the Crescent Electric Supply platform. “We know the Lowe business is in excellent hands with Crescent Electric Supply Co., and it’s exciting to now be a part of a Top 10 electrical distributor,” said Jim Kinman, president of Lowe Electric, in the press release. “Both Lowe Electric Supply and Crescent Electric Supply have long and deep family roots. We were founded in 1903 by Henry Lowe, and Crescent Electric Supply was founded in 1919 by Titus Schmid. Both sets of families are still involved in their respective businesses, and both cultures benefit from these family legacies.”