Stoneway Electric Supply Company (the "Company") ranks as one of the 50 largest electrical distributors in the nation.
The Company was majority owned by its employees in an Employee Stock Ownership Plan, with the balance held or controlled by
the founder and key management. The owners collectively decided to offer the Company for sale in order to provide liquidity,
diversify wealth, and position the Company for its next phase of growth.
Zachary Scott was retained on an exclusive and confidential basis to represent both the ESOP and the private
shareholders in accomplishing this objective.
The Company was sold to Crescent Electric Supply Company ("Crescent Electric"), one of the eight largest
electrical distributors in the U.S. Established in 1919, Crescent Electric is a family owned business
headquartered in East Dubuque, Illinois.
"Although we already knew the small universe of companies
that had been active in consolidating the electrical
distribution industry, we selected Zachary Scott to assist
us to prepare to approach those companies and conduct a
competitive process. The time that Zachary Scott invested
to intimately understand our business proved to be of
significant benefit in negotiating the details of the sale
and managing the buyer's due diligence process. I couldn't
have been more pleased with the outcome."
Cliff Kelly, President of Stoneway Electric Supply Company