Last month, ESCA member company Border States Electric reached a deal to acquire Electrical Wholesale Supply of Utah (EWS). EWS is a 50-year-old, family-run business based in Salt Lake City. The company has a rich history of customer service and consistent growth, with a strong reputation for technical and project management capabilities, serving large and small users and contractors.
Reed Gardner, the President of EWS, addressed the acquisition saying: “We are delighted to join the Border States team. We are both focused on excellent customer service and share common values”. He continued saying, “We believe Border States’ ESOP and culture provide the best succession plan for our family-owned business. Border States will provide expanded resources and opportunities for our employees and customers.”
It is the unique strengths and culture of employee-owned companies that attract family-run businesses like Electrical Wholesale Supply. These strengths not only create a healthy work environment but they boost the company’s bottom line, as well. A 2008 study found that due to their unique culture, ESOPs experienced higher productivity, profitability, job stability and job growth compared to the general private sector.
Tammy Smith, Border States’ CEO, echoed Gardner saying, “Border States has a long history of Service Excellence, and EWS delivers Excellence with Service. As our two companies join forces, it is truly Excellence Connecting. And when excellence connects, powerful things happen!” Adding, “Together, we will deliver service excellence and increased value to our customers.”
ESCA congratulates both Border States Electric and Electrical Wholesale Supply of Utah (EWS) on the new partnership.
Border States Electric supplies products and services to construction, industrial and utility customers. The 100 percent employee-owned company is the ninth largest electrical distributor in the U.S. as ranked by Electrical Wholesaling magazine. With this acquisition, Border States will have over 1,600 employees and 63 branches in 14 states. Corporate headquarters are located in Fargo, N.D.