The Reynolds Company, which is a subsidiary of McNaughton-McKay Electric Company, announced an agreement to buy San Antonio, Texas based Mid-Coast Electric Supply. Financial terms of the deal, which is subject to final definitive agreements, weren’t disclosed.
The transaction is expected to close by the end of October. One the deal is done, multi-region McNaughton-McKay will have more than 1,500 employees serving customers from 57 locations in the Midwest, Southeast and South-Central areas of the U.S. Going forward, each company will retain its current operating structure and footprint.
Mid-Coast, was founded by Louis Barker in Victoria, Texas in 1968 and has been under the leadership of Tom and Steve Barker since 1993. Mid-Coast is an electrical and automation distributor primarily focused on the industrial markets of South Texas. The company currently has 106 employees across six locations.
“It is with much excitement that we welcome Mid-Coast into our employee-owned family. We value the commitment and dedication under the leadership of Tom and Steve Barker, that Mid-Coast has brought to their customers over many years,” said McNaughton-McKay CEO Don Slominski.
For more than 37 years, The Reynolds Company has served the energy, industrial, and construction markets across Texas and Louisiana. The company has 18 locations and exports products globally.
The post The Reynolds Company Strikes a Deal for Mid-Coast Electric Supply appeared first on Modern Distribution Management.
