Aug 30, 2019
POWER-FLO TECHNOLOGIES ACQUIRES BRONX BRANCH OF CRESCENT ELECTRIC SUPPLY COMPANY
BROOKLYN, New York, August 30, 2019
Crescent Electric Supply Company has signed an agreement to sell the assets of their Bronx, NY branch to Long Island Electrical Distributing, a Power-Flo Technologies company (PFT). The transaction is scheduled to close on August 30, 2019. This decision was made to strengthen the business and provide continuity for the Crescent Electric employee base and customers in the NYC market. Power-Flo Technologies is well-positioned to give these employees and customers opportunities to grow and thrive. For the next several weeks, the business will operate out of the existing Bronx, NY location, then begin to migrate to the Brooklyn-based operations of Long Island Electrical Distributing. Most of the Crescent Bronx employees have been invited to join the Long Island Electrical Distributing team.
Jerry DiCunzolo, Owner and President of Power-Flo Technologies stated that the company “is unique in its multi-faceted approach of providing services, supplies, and solutions to our customers’ projects from conception to completion, by offering in-house engineering, and support solutions. We believe that with these strengths we will continue to provide the same outstanding customer service and support that the Crescent Electric Supply Company customer values and trusts.”
Crescent Electric Supply Company’s President and CEO Marty Burbridge noted, “This decision was made to strengthen the business and provide continuity for our employee base and customers in the market. Power-Flo Technologies is well-positioned to give our employees and customers’ opportunities to grow and thrive.”
About Power-Flo Technologies:
Power-Flo Technologies is a unique family of companies consisting of distributors, fabricators, manufacturers, and motor and pump repair firms serving the Northeast from New Jersey to Maine. As a Master Distributor and Manufacturer’s Representative with real system solutions, Power-Flo Technologies offers extremely diverse products and service offerings, expert engineering support, 14 state-of-the-art facilities, and over 300 employees. It is this unique diversity of product, capability, and service that enables PFT to bridge the very particular needs of the electrical, institutional, MRO & OEM industrial, as well as the plumbing and mechanical trades.
About Crescent Electric Supply Company:
Crescent Electric Supply Company is one of the ten largest electric supply distributors in the U.S. The family-owned business has served contractors, institutional, and industrial customers with a broad line of electrical, industrial, and datacomm products from 140+ branch locations in 26 states for over a century. In addition to the Crescent Electric brand, customers are served by BA Supply in Missouri, Interstate Electric Supply in Idaho, Mesco Electrical Supply in Ohio, Womack Electric Supply in Virginia and North Carolina, Stoneway Electric Supply in Washington, Oregon, and Idaho and National Electric Supply in New Mexico. The Company was honored recently by receiving the Best of the Best Overall Distributor Marketing Award for 2018, from the National Association of Electrical Distributors (NAED).
Contact: SueJean Naglieri
Telephone: (516) 812-6941