Harris Williams & Co. Advises Womack Electric Supply on its Sale to Crescent Electric Supply Company
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces the sale of Womack Electric Supply (Womack) to Crescent Electric Supply Company (Crescent Electric). Harris Williams & Co. served as the exclusive advisor to Womack, a leading electrical distributor providing products and services to commercial, residential, industrial, institutional and energy end markets. The transaction was led by Bob Baltimore and Ryan Havermann of the firm’s Specialty Distribution Group and Hiter Harris of the firm’s Richmond office.
“Under the leadership of Ray and David Womack and President Burke Herring, Womack has continually transformed to become a cutting-edge electrical distributor, providing mission-critical products and value-added services to its customers,” said Bob Baltimore, a managing director in Harris Williams & Co.’s Specialty Distribution Group.
“We are excited to have had the opportunity to represent such a great team and look forward to watching Womack grow as part of the Crescent Electric family,” added Hiter Harris, co-founder and managing director at Harris Williams & Co.
Since its founding in 1938, Womack has grown to become one of the top electrical distributors in the Mid-Atlantic Region. Headquartered in Danville, Virginia, Womack has 18 locations located throughout North Carolina and Virginia. Womack combines old-fashioned principles with modern thinking and technology. Womack’s varied mix of virtue and ingenuity enables it to be the supplier of choice for customers seeking excellence in service and solutions selling, the distributor of choice for manufacturers seeking efficiencies in channel logistics and marketing expertise and the employer of choice for those seeking fulfilling careers in the electrical wholesaling industry.
Crescent Electric is one of the eight largest electrical distribution companies in the U.S. The company serves contractors, commercial, institutional and industrial customers with a broad line of electrical, lighting, industrial, automation and datacomm products from more than 150 branches nationally and online. In addition to the Crescent Electric brand, customers are served by BA Supply in Missouri, Interstate Electric Supply in Idaho and Stoneway Electric in Washington, Oregon and Idaho. Established in 1919, Crescent Electric is a family-owned business that is dedicated to being a leading distributor of quality products and value-added services, including a national team of energy specialists ready to assist with facility audits and energy-efficient upgrades.
Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.
Harris Williams & Co.’s Specialty Distribution Group has experience across a variety of sectors, including branch-based distributors; specialty catalog and direct marketing; consumer; industrial, MRO and safety; automotive and heavy duty aftermarket; building and construction products; healthcare; technology; electrical and communications; and alcohol, tobacco and firearms. For more information on the firm’s Specialty Distribution Group, visit the Specialty Distribution Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.