Sonepar, Charleston, SC, has entered into an agreement to acquire Butler’s Electric Supply, Wilmington, NC. A family-owned business since 1948, Butler’s Electric branch locations will be integrated into Sonepar’s Capital Electric brand at closing. Focused on small residential and commercial contractors, the Butler’s Electric Supply acquisition brings Capital Electric the opportunity to expand its business along coastal North Carolina.
Drew Esce, president of Capital Electric, said in the press release, “Butler’s Electric is a well-respected distributor who we believe has solid growth potential, especially within the commercial segment. I look forward to welcoming the Butler’s Electric team to Capital and leveraging our companies’ strengths to expand our business opportunities together.”
Commenting on the acquisition, James Butler, owner of Butler’s Electric Supply, said in the press release, “My father founded this company 75 years ago. We’re very thankful for the associates and customers who brought us to this moment. It was important to me that both would be well-served in the transition of ownership. We found the right partner in Sonepar as they will bring the resources and opportunities necessary to remain competitive for the future.”
The acquisition is expected to close at the end of May.