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.