CAPE ELECTRICAL SUPPLY, LLC ANNOUNCES ACQUISITION OF BECK ELECTRIC COMPANY
CHICAGO, October 13, 2009 – Cape Electrical Supply, LLC (“Cape”), a portfolio company of Svoboda Capital Partners, LLC (“SC”), is pleased to announce the acquisition of Beck Electric Company (“Beck”). The transaction is the third add-on acquisition for Cape since SC invested in November 2007. Madison Capital Funding LLC provided senior debt to complete the transaction. Specific terms of the transaction were undisclosed.
Based in Kennett, Missouri and opened in 1999, Beck provides electrical products to contractors, industrial facilities, farmers, and “walk-in” trade. This marks the third acquisition for Cape since mid-2008. In July 2008, the Company acquired Electrical Sales Engineering (“ESE”) in Bowling Green, Kentucky, and in December 2008 it acquired Delmo Electric, Inc. in Fisk, Missouri.
Post-transaction, Beck will continue to operate from its Kennett location, bringing Cape’s distribution network to 21 total branches. Beck owner Bill Beck and his son Darryld will continue with Cape following the transaction.
“We’ve known Bill Beck and his family for several years and have a great deal of respect for their efforts and success in growing a family business,” said Cape Electric President Allen Toole. “Beck Electric will allow us to further expand our regional presence along the Southern Missouri corridor and into Northeast Arkansas”, Toole added.
About Cape Electrical Supply, LLC
Cape Electrical Supply, LLC, headquartered in Cape Girardeau, MO, is a regional distributor of electrical and communication products serving commercial, industrial and residential contractors, as well as industrial, utility, and retail customers. The Company offers one of the broadest and most extensive portfolios of electrical supplies and equipment, consisting of over 25,000 products that represent many of the top-tier suppliers in the industry. The Company currently operates 21 distribution and retail locations in Missouri, Illinois, Tennessee, and Kentucky. For more information, please visit www.capeelectric.com.
About Svoboda Capital Partners, LLC
Svoboda Capital Partners is a Chicago-based private equity firm that invests in and helps build leading value-added distribution, consumer and business services companies in the lower middle-market. Founded in 1998, SC has $250 million of capital under management. For more information, please visit www.svoco.com.
