Elliott Electric buys Key Electric Supply from IES

Integrated Electrical Services, Inc. (Nasdaq: IESC), Houston, has sold the sale of Key Electric Supply, its electrical distribution business. Key Electric Supply, also located in Houston, is a residential and commercial distributor of electrical products ...
March 1, 2011

Integrated Electrical Services, Inc. (Nasdaq: IESC), Houston, has sold the sale of Key Electric Supply, its electrical distribution business. Key Electric Supply, also located in Houston, is a residential and commercial distributor of electrical products that had been one of the rare instances of a distributor owned by an electrical contracting firm. A press release from IES announcing the conclusion of the sale referred to Key Electrical Supply as a "non-strategic asset."

Michael Caliel, IES president and CEO, said IES is focusing on its electrical and communications businesses. "We concluded this was a constructive opportunity to divest another non-core business," he said. "Moreover, we believe the transition of ownership to Elliott Electric Supply, Inc. will be a positive development for both Elliott and Key's customers and employees."

Details

About the Author

Doug Chandler, Senior Staff Writer

Executive Editor

Doug Chandler began writing about the electrical industry in 1992, and still finds there's never a shortage of stories to be told. So he spends his days finding them and telling them. Educationally, he's a Jayhawk with an English degree. Outside of work, he can often be found banging drums or harvesting tomatoes.