The Reynolds Co., an electrical distributor based in Fort Worth, is being acquired by Madison Heights, Michigan-based electrical distribution company McNaughton-McKay Electric Co.
The deal was announced Nov. 10 and is subject to regulatory approval and final definitive agreements.
Upon completion, the newly-combined company will be a multi-region, Top 10 electrical distributor with more than 1,300 employees serving customers from 41 locations in the Midwest, Southeast and South Central areas of the United States. Each company will retain its leadership structure and existing name; the organizations will operate as two separate companies owned by McNaughton-McKay.
The Reynolds Co., founded by Don Reynolds Sr., was founded in 1984 and is primarily focused on support of the industrial end user, industrial OEM, and commercial construction markets. The company currently has more than 450 employees and 18 locations in Texas and Louisiana.
“Our organization has known and collaborated with McNaughton-McKay for many years,” said Walt Reynolds, president and CEO of The Reynolds Co. “In many ways, our approach to business and customer service is already similar – as is our unwavering support of our employees. Our management team looks forward to working with McNaughton-McKay, and each new colleague, to service our industry faster and better. The future is bright for all of us.”
In business for more than 107 years, McNaughton-McKay is a 100-percent employee-owned electrical distributor focused on automotive, industrial and construction markets. While the company began in Michigan, it has grown over the years to service customers in Ohio, North Carolina, South Carolina and Georgia. In addition, McNaughton-McKay owns and operates a wholly owned subsidiary, S&D GmbH, selling electrical products and solutions in Germany.
“I have long admired The Reynolds Company’s pursuit of excellence and commitment to its customers’ success,” said Don Slominski, Jr., president and CEO of McNaughton-McKay. “Through the years I have watched Walt Reynolds and Donald Reynolds – and their father, Don, before them – lead in a way that mirrors our company’s own commitment and dedication to the people we work with and the people we serve. It is with much excitement that we welcome The Reynolds Co. into our employee-owned family, knowing that together we can do even more to serve our customers.”
The transaction between McNaughton-McKay and The Reynolds Company is expected to be completed before the end of 2017. No price for the transaction was released.
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