Acquisition of $400M distributor broadens Sonepar’s presence in the West.
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Latest In Sonepar
The Sonepar Canada Media Arcade aggregates the company’s online activity onto one site for easy access and following.
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SESCO/QUESCO has five locations in the Toronto area.
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New organization will continue to operate under all three existing brands for ‘the immediate future.’
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Hagemeyer North America, Charleston, SC, has launched its 2009-2010 Electrical MRO catalog. The 642-page catalog is the first full-line Electrical MRO products catalog produced by Hagemeyer NA and features 12,845 electrical products from more than 100 Hagemeyer suppliers.
Hagemeyer North America recognized a need for a catalog aimed specifically at the electrical MRO industry, says Brad Pulver, senior vice president, Product Strategy and Marketing. “Our new catalog showcases products and services that satisfy the unique needs of our customers in this market. By compiling this assortment of products from industry-leading manufacturers, and supporting it with inventory investments and attractive pricing, we have created a one-stop-shop for the key …
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Global electrical distributor Sonepar Group, Paris, France, has appointed Paul Klasing as president of Sonepar USA, effective Jan. 1, 2009. Klasing succeeds Tony Burr who has been appointed to a new global role focusing on strategic initiatives for the Sonepar Group.
Partnering with Hagemeyer North America CEO Dave Gabriel in the U.S. market and enjoying the ongoing support of Tony Burr, I am confident that the Sonepar USA operations will continue to thrive under Paul’s leadership,”said Sonepar Group COO Frank Lakerveld.
Sonepar bought Hagemeyer’s North American operations earlier this year.
Klasing joined Sonepar on Sept. 1, 2008. Before Sonepar, Klasing was executive vice president, Stores, at Advance Auto Parts, where he worked for 13 years, leading …
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Chandler, AZ-based Essco Wholesale Electric, a subsidiary of Sonepar USA, has acquired Mountain Vista Supply, Sierra Vista, AZ.
Mountain Vista Supply, an electrical distributor, is a full-line commercial and residential contractor supply house.
Essco Wholesale Electric operates 15 locations in Arizona and California. Sonepar USA has over 4,600 associates in 12 companies operating more than 254 branches in 35 states. In 2007, Sonepar USA had $2.9 billion in revenue. It is a member of the French-based Sonepar group, with 1,450 branch locations and 2007 annual sales of $15.3 …
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Paris-based electrical distributor Rexel completed the sale of parts of Hagemeyer to Sonepar ahead of schedule, completing the deal June 30. Rexel also sold its German business to Sonepar in exchange for all of Sonepar’s activities in Sweden.
Rexel acquired Dutch distributor Hagemeyer NV in March in a $4.7 billion deal that included plans to sell Hagemeyer’s North American, Asian-Pacific and selected European businesses to Sonepar within six months of the acquisition.
The completion of the deal allows the businesses to move forward with the creation of action plans to improve business performance and achieve desired synergies, Rexel CEO Jean-Charles Pauze said.
Sonepar told MDM earlier this year that it will likely keep Hagemeyer’s North American …
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Stuart C. Irby Co., Jackson, MS, a subsidiary of Sonepar USA, has agreed to acquire Equity Utility Service Company, Marietta, GA. The acquisition will expand Irby’s footprint in Georgia.
Equity is a distributor and manufacturers’agent offering products to electric utilities for their transmission and distribution requirements. The employees of Equity Utility Service will operate under the Equity name as a division of Irby through the end of the year.
Irby operates 58 branches in 21 states and is a regional electrical distributor in the U.S. Irby serves customers in four major market segments -industrial, contractor, commercial and utility.
Sonepar USA includes 12 companies operating more than 253 branches in 35 states. In 2007, Sonepar USA had $2.9 …
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Sonepar USA, Philadelphia PA, a subsidiary of Sonepar, has acquired ESSCO Wholesale Electric in Arizona.
ESSCO Wholesale Electric, distributor in Arizona and California, is a full-line commercial and residential contractor supply house. The company is a 14-branch operation.
This expansion of our footprint with a well-established company such as ESSCO is a great move for Sonepar USA, and a major opportunity for strengthening our position on the West Coast,”said Sonepar USA President Tony Burr.
Sonepar USA will now operate 253 branches in 35 states.
Sonepar USA is a member of the Sonepar group. The group has 1,450 branch locations globally and 2007 annual sales of $15.3 …
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Sonepar USA CEO Tony Burr recently spoke with MDM on the distributor’s plans to buy Hagemeyer assets, the state of the economy and the impact of copper and fuel prices on the electrical distributor’s business. In this article, Burr says Sonepar will treat the acquisition of certain Hagemeyer assets much like it does other acquisitions by keeping management and the company’s way of doing things in place.
Sonepar will likely keep Hagemeyer as a standalone operation after acquiring certain of its assets from Rexel. The plan will probably be to keep it as a standalone operation,”Tony Burr, Sonepar USA CEO, tells MDM. “It has a different customer base, predominantly, and a different market approach.”
Sonepar USA’s parent company -Paris-based Sonepar -has agreed …
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Sonepar USA plans to approach the integration of Hagemeyer’s U.S. assets much like it does any other company it acquires, CEO Tony Burr tells MDM in a recent interview. It has a different customer base, predominantly, and a different market approach,” he says. Sonepar has not yet acquired Dutch electrical distributor Hagemeyer’s assets in North America, Asia-Pacific and select European markets from Paris-based Rexel, but the plan is to do so before the end of the year.
Sonepar’s strategy is to leave acquired companies’ trading names and management in place; with this operating structure, the distributor recognizes that distribution is largely a local business and that it is important to cater to local needs.
In Hagemeyer’s case, “We’ll find there will be some …
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The European Commission has authorized Rexel’s proposed acquisition of Hagemeyer’s European assets, finalizing antitrust approvals sought by both Rexel and Sonepar in their acquisition of Hagemeyer.
The commission is requiring Rexel divest Hagemeyer’s electrical wholesale business in Ireland, representing €40 million in sales.
In November 2007, Rexel and Hagemeyer reached an agreement for Rexel to buy the Dutch electrical distributor for roughly US$4.5 billion. Rexel will then sell Hagemeyer’s North American, Asian-Pacific and selected European businesses to Sonepar.
The overall transaction will combine the strengths of three major players in the distribution of electrical supplies. The transaction will broaden Rexel’s footprint across …
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Paris-based electrical distributor Rexel confirmed that it will keep its bid of & euro; 4.85 per share for Dutch rival Hagemeyer NV, a total of about & euro; 3.1 billion (US$4.5 billion).
Analysts and industry-watchers questioned whether the company would move ahead with its takeover bid or reduce the offer after Hagemeyer was ordered to pay & euro; 50 million in advance damages over the bankruptcy of a former …
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French electrical distributor Rexel is still looking at whether it will lower or drop its bid for Dutch rival Hagemeyer NV, according to Reuters news service. The question comes after Hagemeyer was ordered to pay & euro; 50 million in advance damages over the bankruptcy of a former subsidiary.
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The Financial Times in London however said Rexel was pushing ahead with its & euro; 3.1 billion takeover offer. The Reuters article contradicted that report.
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Still, Hagemeyer has said the details about the lawsuit were public, as well as the timing of the case. The Financial Times said that Hagemeyer in its 2006 annual report estimated damages in the case to be & euro; 160 …
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The Netherlands-based electrical distributor Hagemeyer NV, which recently agreed to be bought by Paris-based Rexel, was ordered by a judge to pay & euro; 50 million (US$73 million) in bankruptcy-related damages.
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The case involves Ceteco, which went into bankruptcy in 1998 and started proceedings against Hagemeyer, former members of Hagemeyer’s board of management, supervisory board and the accountant of Ceteco. The company claimed mismanagement led to the bankruptcy. Hagemeyer owned 65% of Ceteco.
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Though some are speculating that the judgment may affect Rexel’s deal with Hagemeyer in the form of a reduced offer or a rescinding of the offer overall, a Hagemeyer spokeswoman told Reuters that the case was not news to Rexel. They know about this. This court case …
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Rexel and Hagemeyer have reached an agreement on Rexel’s all-cash offer of & euro; 4.85 for Hagemeyer’s assets, valuing the company at & euro; 3.1 billion (US$4.5 billion).
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The offer was approved by the boards of Rexel, Sonepar and Hagemeyer.
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Rexel has secured committed debt financing.
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As previously announced, Rexel has agreed to sell Hagemeyer’s North American, Asian-Pacific and selected European businesses to Sonepar after completion of the sale.
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The overall transaction will combine the strengths of three major players in the distribution of electrical supplies. The transaction will broaden Rexel’s footprint across Europe, while significantly consolidating Sonepar’s positions in North America and Asia-Pacific.
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Electrical distributors Rexel and Hagemeyer have reached an agreement on Rexel’s all-cash offer of & euro; 4.85 for Hagemeyer’s assets, valuing the company at & euro; 3.1 billion (US$4.5 billion).
The offer was approved by the boards of Rexel, Sonepar and Hagemeyer. Rexel has secured committed debt financing for the all-cash offer.
As previously announced, Rexel has agreed to sell Hagemeyer’s North American, Asian-Pacific and selected European businesses to Sonepar after completion of the sale.
The overall transaction will combine the strengths of three major players in the distribution of electrical supplies. The transaction will broaden Rexel’s footprint across Europe, while significantly consolidating Sonepar’s position in North America and …
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Hagemeyer and Rexel entered exclusive negotiations aimed at finalizing an agreement under which Rexel would make an all-cash offer of & euro; 4.85 per share, approximately 3.1 billion euro in total, or US$4.5 billion. Under the agreement, Hagemeyer’s Management and Supervisory Boards would recommend Hagemeyer accept this offer.
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The offer is up from Rexel’s original bid of & euro; 4.60, which had valued the company at US$4.3 billion.
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Rexel’s agreement with Sonepar will stand. As part of that agreement, Rexel will sell Sonepar the American, Asian-Pacific and select European activities of Hagemeyer.
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For Rexel’s part, in the original proposal, it said it would acquire Hagemeyer’s Professional Products & Services (PPS) activities in the Baltic …
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A bidding war has possibly been avoided in the fight for Dutch electrical/industrial distributor Hagemeyer’s global assets. Rexel just bid nearly $4.3 billion for the company, but plans to only keep a little over half of Hagemeyer when all is said and done. Sonepar has agreed to buy the rest.
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In an interesting twist, French-based distributor Rexel has made an offer to acquire Hagemeyer, and has agreed to sell certain assets of Hagemeyer to Sonepar if its offer is accepted.
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The move eliminates the possibility of a bidding war between the two electrical distribution giants. It also plays down the risk of buying the entire company.
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Rexel’s offer was made for & euro; 4.60 euro a share in cash, valuing Hagemeyer at & euro; 3 …
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