Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, announced that it has completed the acquisition of Shepherd Electric Supply, based in Baltimore, Maryland.
Shepherd Electric Supply is an electrical distributor that serves construction, commercial, industrial, and government customers. The company was founded in 1892 and operates five locations in Maryland, Virginia, and the District of Columbia. Last year, Shepherd ranked 13th in Baltimore Business Journal’s largest private companies list and was voted as one of Baltimore Sun’s Top Workplaces. The company also ranked 34th on Electrical Wholesaling magazine’s 2023 Top 150 Electrical Distributors List. As a subsidiary of Graybar, the company will continue to operate under the Shepherd Electric Supply name with the same leadership team, employees, and suppliers.
“Shepherd is a highly respected company that aligns with Graybar’s values, culture and strategy,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “With its longstanding presence and strength in the Washington-Baltimore metropolitan area, we believe this acquisition provides a solid foundation for accelerating our growth. We are delighted to welcome the Shepherd team to Graybar and look forward to achieving success together.”
“Shepherd and Graybar complement each other well, with similar core values and a shared focus on building long-term customer relationships,” said Stuart L. Vogel, chief executive officer of Shepherd. “Throughout our 131-year history, our people have always been the key to our success. Becoming part of a successful, employee-owned company like Graybar allows us to sustain our distinctive culture and positive work environment, while also creating new opportunities to expand our service capabilities and grow our business for the future.”
Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and data networking products, and specializes in related supply chain management and logistics services. Through its network of more than 325 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network, automate and secure their facilities with speed, intelligence and efficiency.
SOURCE: PRNewswire