Graybar Electric Co., completed the acquisition of CX Connexion, Buffalo Grove, IL, one of the largest independent distributors in the Chicago market.
CX Connexion serves construction, commercial, institutional and industrial customers, with specialized capabilities in lighting and equipment design and a comprehensive solutions platform. The company was founded in 2007 and operates two locations in the Chicago area. Graybar’s website lists a downtown location in Chicago and an adminstrative office in suburban Naperville, IL.
As a subsidiary of Graybar, the company will continue to operate under the CX Connexion name with the same leadership team, employees and suppliers. Kathleen Mazzarella, Graybar's chairman, president and CEO, said in the press release, “With its positive reputation and extensive service capabilities, we believe the acquisition of CX Connexion provides a solid foundation for accelerating our growth in the Chicago market.”
“CX Connexion and Graybar have similar core values, a shared focus on innovation, and a commitment to the future of our industry,” said David Rosenstein, president and CEO of CX Connexion, in the press release. “Becoming part of Graybar allows us to preserve the strengths of our culture, while expanding our ability to serve customers, invest in growth and position our company for long-term success.”
Over the past two years, Graybar or its subsidiaries has acquired seven distributors, including three companies in 2021 that were on Electrical Wholesaling's Top 150 list — Stevens Engineering, South San Francisco, CA; Metro Electric Supply, St. Louis; and Shingle & Gibb Automation, Moorestown, NJ. Its other acquisitions in 2021 and 2022 were Richmond Electrical Supply, Richmond, KY, through its Cape Electrical Supply subsidiary; Electro-Mag, Sherbrooke, QU, through Graybar Canada; Walker Industrial Products, Newtown, CT; and Advance Electrical & Industrial, Norcross, GA.
Graybar is ranked #3 on EW’s 2022 Top 150 ranking of the largest distributors in North America, with $8.8 billon in North American revenues, 8,800 employees and 300 locations. CX Connexion is ranked #77 with 135 employees.