Rexel posted modest U.S. sales growth, reflecting strong performance in core electrical distribution despite weather-related challenges.
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QXO's bid for Rexel, a top electrical distributor in North America, was rejected as undervaluing the company’s potential.
Rexel reported sales in North America remained flat with some improvement, offset by challenging market activity in Europe.
It marks Mayer’s first entry into southeast Florida’s Miami-Dade market.
It’s set to push the distributor’s U.S. datacom and datacenter sales to over $1 billion annually.
The company also is acquiring a 13-branch distributor in France.
Former Wesco VP Shawn Hawkins will join electrical supplies distributor Rexel USA as the Gulf Central Region President.
North American full-year sales reached nearly $8.9 billion for a 4.0% annual gain. See our in-depth breakdown of Rexel's financials.
Raman Marwah joins the electrical supplies distributor after spending the past 9 years at Gartner and IBM.
Rexel USA's Jeremy Rothbard, previously District VP of Southern California, will now serve as President of the region.
Roger Little will become CEO of Rexel USA and leader of the USA-Canada cluster, while Jeffery Moyle replaces Little as Rexel Canada CEO.
Tim Ryan, Rexel's Midwest Region President, brings 17 years of experience in the industrial supply space to the electrical distributor.
For 3Q 2023, sales in North America were $2.21 billion, an increase of 2.7%, while sales in Europe were $2.38 billion, an increase of 3.4%.
Michael Hanna has been promoted to Western Division President, while Eric Packer is now Senior Vice President of Strategic Growth Initiatives.
The company's 2023 second quarter included one new acquisition and the naming of a new Chief Strategy Officer.
Jordan Lomheim will succeed Wes Smith, who is transitioning into an advisor role, as Rexel USA's newest SVP and Chief Strategy Officer.
The acquisition will double Rexel's size in the Netherlands.
The French electrical distributor said total 1Q 2023 sales across the globe increased 12.6% versus the same period last year.
The pace of mergers and acquisitions among industrial distributors and manufacturers stalled in March following several strong months.
Rexel said the deal continues its goal to bolster services along Louisiana’s Interstate 10 corridor and strengthens its Gulf Central Region.
