Electrical, communications and data networking products distributor Graybar announced Dec. 19 its acquisition of fellow electrical distributor CX Connexion. Financial details of the transaction were not disclosed.
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Founded in 2007, CX Connexion serves construction, commercial, institutional and industrial markets in the Chicago area, with its headquarters in Buffalo Grove, Illinois. As a subsidiary of St. Louis-based Graybar, the company will continue to operate under the CX Connexion name with the same leadership team, employees and suppliers, according to a news release.
“We are excited to welcome the CX Connexion team to Graybar,” Graybar president and CEO Kathleen Mazzarella said. “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,” CX Connexion president and CEO David Rosenstein said. “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.”
Graybar ranked No. 3 on MDM’s 2022 Top Electrical, Data & Security Distributors list.
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