Power Supply Company LLC, a leading electric utility distributor in Tennessee, has been acquired by Cape Electrical Supply. The acquisition brings together two respected names in the electrical distribution industry and marks a significant expansion for Cape Electrical Supply into the Tennessee market.
Founded in 1999 by John Kosky and Rob Jenkins, Power Supply Company serves a broad range of customers throughout Tennessee, Georgia, and Alabama. Moving forward, the company will operate as a division of Cape Electrical Supply, maintaining its existing employees and supplier relationships, ensuring a seamless transition for its loyal customers.
Cape Electrical Supply, a wholly-owned subsidiary of Graybar and an employee-owned company, serves markets across the utility, commercial construction, industrial, and residential sectors. The acquisition of Power Supply fills a strategic gap for Cape Electric, which had a presence in surrounding states but not a strong foothold in Tennessee until now.
"We are excited to welcome the Power Supply team to Cape Electric," said the company president. "We look forward to combining our strengths to serve our customers and achieve long-term success together."
Viking M&A's Kyle Valentine and Jeff McKeehan facilitated the transaction. Valentine worked closely with Kosky and Jenkins to craft an exit strategy aligned with their goals while providing a growth opportunity for Cape Electrical Supply.
"Kyle Valentine and Jeff McKeehan... brought the best candidate to the table," said Jenkins. "They enabled us to do our day-to-day work while they sifted through all necessary data. With their guidance and professionalism, we decided upon a company whose current and future goals aligned with ours."
"This deal reflects the strong alignment between buyer and seller," said Valentine. "Both sides were fantastic to work with, and we're confident this acquisition will benefit their customers and employees for years to come."
