EAST WALPOLE, MA, and CONCORD, OH, May 16, 2003 — Equity Electrical Associates, Inc. (Equity), a nationwide group of independent electrical distributors and Electrical Distributors Network, Inc. (EDN), an established electrical distributor marketing group that provides marketing and sales support services to a network of independent electrical wholesale distributors throughout the United States; announced that the two companies have merged forming a $6 Billion dollar plus network of nearly 1,000 member headquarters locations with more than 1,150 individual locations covering all 50 States.
The two entities – Equity and EDN – will remain as separate operating divisions, maintaining existing company names, personnel, Boards of Directors, earning schedules and payment procedures. The new “parent” company will be called Power Marketing Management, LLC, with Richard Noel of Equity as Board Chairman and Matthew Roos of EDN as President /CEO.
In a joint statement by Noel and Roos, the two presidents noted: “We are extremely optimistic about the endless opportunities for both the Member Distributors and the Associated Manufacturers.” “The timing is perfect, given the general state of the economy and the merger will prove to be profitable for all. It will have an immediate and positive affect on the bottom line of all members of both divisions. It will also offer double the promotional and operational offerings to members, providing economies of scale, plus the combined talent and budgets of both with a single objective.”
The merger will also provide the Associated Manufacturers with extensive additional, combined efforts to promote those manufacturer’s brands to a much broader audience where both groups are involved, which is the case in approximately 80% of the sales volume. Wherever existing individual manufacturer relationships with either EDN or Equity are in place, the manufacturer will still be offered double the professional talent and attention paid to the marketing and promotion of all Associated Manufacturers’ Brands.
As a point of interest, Noel, who founded Equity in April 1989 and who has had a long and exceptionally successful career in the electrical industry, said: “Matt Roos and I are on the same wave length. We both look upon this merger as the answer to the large national, regional and international giants in the industry who are constantly threatening the existence and growth of the medium and smaller independent electrical distributor. They (the “250 giants”) occupy 50% of the total $73 Billion market (E.W. Statistics), served by this segment of the electrical industry. We, the now merged Equity and EDN companies operate and predominate in that “vast middle ground” that ALSO represents $36.5 Billion in sales. Noel went on to say that Matt Roos, president of EDN and President / CEO of the parent company; has that same “fire in the belly” and entrepreneurial spirit that has driven EDN’s growth to become a major force in the electrical wholesale distribution industry.”
“This driving spirit on the part of both companies is mandatory to continue encouraging the under $20 Million medium and smaller distributor not to cave in to the giants, who threaten them every day. Equity and EDN independently were previously supporting this segment of distribution in their separate efforts to beat, or at least equal, the “big guy”. Together, in a totally legal and logical, combined effort, we can and will prevail in this wonderful free economy.” This merger was long overdue and many who became privy to the negotiations said: “What took you so long to do something so logical?”
For more information about Equity, visit the website at www.equity.org or call Richard Noel, president, Equity Electrical Associates, Inc., tel: (407) 672-0188, or email: email@example.com. For more information about EDN, visit the website at www.profitpower.com, call (800) 338-8308 or email: firstname.lastname@example.org.
About Equity Electrical Associates, Inc.
Equity Electrical Associates, Inc. is a nationwide group of 270 independent electrical distributor companies many with multiple branches; each a leader in their own geographic market area. By pooling purchasing power and focusing marketing efforts with leading electrical industry manufacturers, Equity enhances its member’s profitability and ability to provide customers with the best value and service on quality electrical products for contractor, commercial, industrial and OEM applications.
About Electrical Distributors Network, Inc
Electrical Distributors Network, a national electrical marketing organization founded in 1993, provides marketing services and sales support to a network of 656 (plus branches) independent electrical wholesale distributors throughout the United States. Focus on market specific objectives, quality products and services continually strengthen the EDN program ultimately improving member’s competitive position in their local markets.