EAST DUBUQUE, Illinois July 21, 2016 — Crescent Electric Supply Company has signed a definitive agreement to purchase online retailer Home Products Etc. LLC (HPE). The transaction is scheduled to close within 30 days.
HPE was founded in 2012 with the goal to be the online source for home products serving both B2B and B2C markets. Most commonly known for the web property www.EliteFixtures.com, HPE has built a proven, scalable ecommerce platform that is recognized for its ease of use and is supported by an excellent customer service team.
"The acquisition of HPE brings tremendous value to our company as we embark on an aggressive plan to grow our online presence in the electrical product marketplace," noted Erich Lemke, Crescent Electric senior vice president & CIO. "In addition to the robust, battle-tested platform, the acquisition brings us a talented ecommerce team, including HPE's two founders and leaders, each with expertise in online sales, marketing, operations and technology."
Commenting on the acquisition, Crescent Electric president & CEO Marty Burbridge stated, "Our strategic plan calls for significant growth in sales through our online channel in parallel with market share gains from our traditional brick and mortar locations. The purchase of HPE will allow us to expand our online presence rapidly and provide additional services to our current customers."
"An additional benefit is that the acquisition will allow us to offer online purchasing and account management services through branded ecommerce sites for customers served by our other operating companies and subsidiaries - Stoneway Electric, Interstate Electric Supply and BA Supply," Burbridge concluded.
Crescent Electric Supply Company is one of the largest electrical supply distributors in the U.S. The family-owned business has served contractors, institutional, and industrial customers with a broad line of electrical, industrial, and data communication products from 130+ branch locations in 26 states for over a century. In addition to the Crescent Electric brand, customers are served by BA Supply in Missouri, Interstate Electric Supply in Idaho, Mesco Electrical Supply in Ohio, Womack Electric Supply in Virginia and North Carolina, Stoneway Electric Supply in Washington, Oregon, and Idaho and National Electric Supply in New Mexico. The Company received the Best of the Best Overall Distributor Marketing Award for 2018 from the National Association of Electrical Distributors (NAED).