ST. LOUIS, Jan. 19, 2023 (GLOBE NEWSWIRE) --
Saint Louis, MO, January 2023 – ButcherJoseph & Co. (“ButcherJoseph”) served as exclusive financial advisor to NEDCO Supply (“NEDCO” or the “Company”) on its sale to Codale Electric Supply, Inc. (“Codale”), a subsidiary of Sonepar (“Sonepar). NEDCO is a full-service wholesale distributor of commercial, residential, Industrial, and low voltage electrical components. The transaction closed on December 31, 2022.
NEDCO had grown to over $180 million in annual sales with multiple divisions contributing to the success of the company and strengthening Codale’s position in southern Nevada, increasing its coverage in an area experiencing tremendous growth.
“After 40 years serving the Las Vegas electrical market, we’re very thankful to all our customers, employees, and vendor partners for supporting us through the years," NEDCO Supply owners Marshall Hunt and Marc Winard said in a joint statement. "We are excited to join the Sonepar family of companies. We feel this opportunity secures the future for our employees and enables our team to sustain the high level of customer service we’ve been known for. When it came time to sell, Sonepar was our first choice. Marshall and I look forward to continuing our careers under the Sonepar banner.”
ButcherJoseph Managing Director, Alberto del Pilar, commented, “We are thrilled to have been able to advise NEDCO Supply on a transaction that met the Company’s long-term strategic objectives. We are delighted with the outcome of the sale process and look forward to the continued growth and future success of both firms.”
About NEDCO Supply
NEDCO Supply was founded in 1982 by Mr. Paul Winard. Mr. Winard had been selling light bulbs to the sign and casino industry for over 20 years and decided it was time to expand his offerings. NEDCO was the first distributor in the Las Vegas Valley to offer Same Day Delivery to the trade. Our mission was to offer the best service possible and to make sure we had the right inventory when the customer called. The same is true today as NEDCO has become the leading electrical distributor in the state. NEDCO is ranked in the top 100 electrical distributors in the U.S. from a single branch location in Las Vegas, Nevada.
About Codale Electric Supply, Inc.
Founded in 1975 by Dale P. Holt, Codale Electric Supply started with only five employees before becoming one of the most innovative and fastest-growing electrical supply distributors in the nation. Today, we are headquartered in Salt Lake City, Utah and currently have thirteen branch locations in the western United States. Even though we have quite a presence in Utah, Nevada, and Wyoming, we've declared that we will not rest until we can help provide contractors throughout the nation with the supplies that they need.
About Sonepar
Sonepar is an independent family-owned company with global market leadership in B-to-B distribution of electrical products, solutions, and related services. Sonepar’s independence remains a key strength in the Group’s strategy of sustainable, long-term growth. It continues to expand across the world, powered by the commitments of its family shareholders and by investing in the skills of its associates.
About ButcherJoseph & Co.
ButcherJoseph & Co. is a boutique investment banking firm specializing in ESOPs, mergers and acquisitions, private debt & capital sourcing and valuation advisory services for middle market companies. Its industry recognized team of professionals has executed 200+ transactions exceeding $15 billion in total value. ButcherJoseph is headquartered in St. Louis with a presence in Washington, DC and offices in Chicago, Charlotte, Scottsdale, and Nashville.
Advisors
Snell & Wilmer served as legal advisor and Eide Bailey served as tax and accounting advisor to NEDCO. Jones Dayserved as transaction counsel and BDO provided financial tax due diligence to Sonepar.
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