Hajoca to acquire certain Eastern Penn Supply assets
Eastern Pennsylvania Supply President George Conyngham Jr. announced in a letter to customers, vendors and business partners that the Wilkes-Barre, Pa.-based distributor, a division of W.H. Conyngham & Co., has entered into a definitive agreement of sale to Ardmore, Pa.-based Hajoca Corp., whereby Hajoca will acquire certain assets of EPSCO.
In the letter, Conyngham said he expected the transaction to close on Jan. 23. Terms of the transaction, by mutual legal agreement, will not be disclosed, he added.
EPSCO was founded in 1889 and services generally the northeast quarter of Pennsylvania with 11 branches in Allentwon, Athens, Berwick, Montandon, Scranton, Stroudsburg, Tunkhannock, White Mills and Wilkes-Barre (Coal Street).
Hajoca, founded in 1858, has hundreds of locations across the U.S., and checked in at No. 7 on the 2016 Supply House Times Premier 150 list of top PHCP-PVF distributors. “EPSCO has cultivated a strong relationship with Hajoca over the last several years and we see this as an excellent strategic and geographical fit for both parties,” Conyngham wrote in the letter.
“We expect to continue and most certainly improve the same high level of service to our most valued asset—you, our customers—and want to thank all of you for your friendship and support,” he continued in the letter.
Conyngham added that post-transaction, Ren Schuler, vice president/operations at EPSCO, will continue as regional manager of Hajoca EPSCO region and Joseph Kerestes, vice president finance, will continue as operations manager.
George Conyngham and Donald Conyngham will continue to be available for consultation as needed, but have elected to distance themselves from day-to-day operations, Conyngham explained in the letter.
“We want to assure you this will be business ‘better than usual,’” George Conyngham said.