Mid-Coast Electric Acquisition Announcement
Fort Worth, TX - June 24, 2021 – The Reynolds Company, a subsidiary of the McNaughton-McKay Electric Company today announced an agreement, in principle, to acquire, San Antonio, Texas based Mid-Coast Electric Supply, Inc., subject to final definitive agreements. Upon completion, the multi-region, Top 10 electrical distributor will have more than 1,500 employees serving customers from 57 locations in the Midwest, Southeast and South Central areas of the United States. 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 and 6 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!”...Don Slominski, CEO McNaughton-McKay.
“We have long respected The Reynolds Company and McNaughton-McKay organizations. More recently, we have been watching The Reynolds Company’s and McNaughton-McKay’s relationship evolve and grow over the last three years. Together, they have created an improved value proposition for all of the stakeholders they serve. Steve and I are excited for the entire Mid-Coast team to join this exciting employee-owned company!”...Tom Barker, CEO Mid-Coast Electric Supply, Inc.
The transaction is expected to be completed by the end of October.
About McNaughton-McKay Electric Company
McNaughton-McKay Electric Company is a 100% employee-owned wholesale distributor of electrical products and solutions for the industrial automation, commercial and construction markets. The company was founded in 1910 in Detroit, Michigan. Focused on best in class products, innovative industry solutions, and superior customer service, McNaughton-McKay has 27 locations in five states: Georgia, Michigan, Ohio and North and South Carolina, and with additional locations in Germany. To learn more, visit Mc-Mc.com.
About The Reynolds Company
The Reynolds Company, a subsidiary of McNaughton McKay Electric Company, is a wholesale distributor of electrical products headquartered in Fort Worth, Texas. For more than 37 years, The Reynolds Company has served the energy, industrial, and construction markets across Texas and Louisiana. Focused on quality, productivity, services and solutions, the company has 18 locations and exports products globally. To learn more, visit ReynoldsOnline.com.