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Giving it a presence in western Tennessee, Roden Electrical Supply Co. Inc., Knoxville, Tenn., has agreed to acquire the L&H Group of Companies in Jackson and Memphis, Tenn.
The L&H Group of Companies has approximately 45 employees and annual sales of about $12.5 million.
With this acquisition, Roden, ranked 78th in Electrical Wholesaling’s annual Top 200 listing at $85.5 million 2005 revenues, will exceed $120 million annual rate of revenues. That would rank Roden in the top 60 electrical distributors in the United States and represents a tripling of annual revenues since 2000.
The acquisition is expected to be finalized Nov. 13.
“It was a great acquisition,” said Neil Gillespie, Roden Electrical’s vice president of marketing and strategic planning. “The feedback we received from all the reps and the manufacturers was that L&H was a very good company and would fit the Roden culture. And it gives us a good start in western Tennessee.”
L&H Supply in Jackson will continue as Roden Electrical Supply Co. Inc., at the existing location. L&H Jackson is an authorized Rockwell Automation distributor, as are all other current Roden Electrical Supply locations. L&H Supply, Memphis will do business as L&H Supply but will be owned by Roden.
Current L&H President and CEO Tom Stanfield will continue as consultant to Roden on the L&H Group of Companies. Current L&H Vice President John Higdon will continue with Roden as vice president of industrial sales, West Tennessee. Steve Fischer of L&H Supply Memphis will serve as general manager of L&H Supply Memphis.
Roden now has 13 locations in Tennessee, Alabama and Georgia. In Tennessee: Chattanooga, Cleveland, Jackson, Kingsport, Knoxville, Memphis, Newport, Oak Ridge and Pigeon Forge. In Alabama: Birmingham, Montgomery and Tuscaloosa. In Georgia: Dalton.
Roden Electrical Supply Co. has served industrial and construction customers since 1936. Since 2000, Roden has expanded from its Knoxville base south into Alabama, to the northeast into Tri Cities, Tenn., and now to the west into Jackson and Memphis, Tenn.