Hughes Supply Acquiring Southwest Power And Western States Electric
Orlando, Fla.-based Hughes Supply announced in early October that it had entered into a purchase agreement to acquire Southwest Power and Western States Electric, each a large privately owned distributor of electrical utility transmission and distribution (T&D) supplies and equipment in the United States, and, together, one of the largest T&D distributors focused exclusively on the western and southwestern United States and recently, western Canada. Southwest Power and Western States Electric share a common private ownership group.
The agreement specified a purchase price of $123.5 million, payable in cash, subject to post-closing balance sheet adjustments. As of press time, the wholesaler said that it expected the closing to occur Nov. 1, subject to customary closing conditions.