Border States has reached an agreement to buy Advance Electrical Supply Co., a leading wholesale electrical supplier in Chicago.
Advance has more than 100 employees serving the Chicago-area market and will join Border States, an employee-owned company, on April 30. Advance Electrical Supply Co. is owned by Mike Mayworm, executive vice president, and Aaron Hughes, president.
“It’s great to see the success Advance has had. We have an amazing group of people and to be able to continue to grow at an even faster rate is exciting,” said Mayworm. “I couldn’t think of doing it with anyone other than the border states.”
“Mike and I are extremely excited to join Border States. We talk a lot about ‘acting like owners’ and being able to give our team members the opportunity to be true owners is an incredible opportunity for them,” said Hughes. “Border States embodies what we wanted to become in the future. We are aligned with our values and the way we treat people. Joining Border States will accelerate our growth in the Chicago area and help us provide an even better customer experience.” .
“We are delighted to welcome Advance Electrical Supply Co. to our employee-owned business. It is a very successful and highly respected electrical distributor with an outstanding reputation,” said President of Border States Jason Seger. “Their proven track record, Chicago presence and growth potential make them a perfect geographic fit. Most importantly, their values and belief in strong customer service, strong supplier relationships and desire for employee ownership align well with our culture.
Advance has achieved double-digit revenue growth, on average, over the past five years, with sales primarily generated in the construction market. They will join the eastern region of the border states, forming the central-northeastern zone. Don Masters, executive vice president of the Eastern Region, and James Sipe, executive vice president of supply chain for Border States will lead the integration team.
“In acquisitions, we focus on people, management team and culture. Advance has great talent across the organization and is led by a progressive leadership team that has created high engagement and a winning culture – our two companies share similar values and approaches to success,” said Border States CEO David White. “We believe that if you take care of each other, customers and suppliers, the rest will take care of themselves. It’s a terrific fit; we look forward to growing together.