Hughes Supply Inc., Orlando, has expanded into Las Vegas with the acquisition of Standard Wholesale Supply Co., a distributor of waterworks, electrical and plumbing products.
Standard Wholesale Supply generated sales of approximately $73 million in its latest fiscal year ended Dec. 31, 2003, and has 90 employees. The company’s waterworks, electrical and plumbing segments serve primarily the residential and infrastructure new construction markets in the Las Vegas area. Its product offerings include pipes, hydrants, valves, fittings, poles, street lights, wire and cable, and fixtures.
About one-fourth of Standard Wholesale Supply’s business is electrical. Approximately 60 percent of the company’s sales is geared toward waterworks and sewer, and 15 percent of the business is plumbing. The acquisition is the first venture by Hughes Supply’s electrical business into the western states. Before the acquisition, Hughes Supply’s electrical business went as far west as Texas.
Tom Morgan, president and CEO of Hughes Supply, said, “The acquisition of Standard Wholesale Supply accelerates our geographic expansion into the very attractive market of Las Vegas, the fastest-growing city in the country. In addition, the company’s long history of providing the highest level of service possible to the customer, along with quality products, is well-aligned with the Hughes culture.”
“As a family-owned company with 65 years of history in Las Vegas, joining another family-originated company with the power and tradition of Hughes Supply is the ideal fit to help take Standard Wholesale Supply to a new level,” said Gary Crowe, president of Standard Wholesale Supply Co. “Hughes’ waterworks, plumbing and electrical product groups complement us, and their philosophies and dedication to the customer mirror our own guiding principles.” Both Crowe and Russ Soderquist, general manager, are expected to remain with the company after the acquisition.
Hughes Supply, Inc., founded in 1928, is a diversified wholesale distributor of construction, repair and maintenance-related products, with 486 locations in 38 states. Hughes employs approximately 8,400 associates and generates annual revenues of over $3 billion.
Hughes Supply will change Standard Wholesale’s name to Hughes. The name change is expected to be completed by the end of the year, according to a company spokesperson.