Latest Maynards Electric Supply News
Nov 21, 2016
November 11, 2016 VP Supply Corp. has acquired its neighbor, Maynards Electric Supply Inc. With the acquisition, VP Supply now has over 30,000 square feet of showroom space in the Design Center at Winton Place in Henrietta. Maynards is a wholesaler and retailer of lighting, industrial electric distribution equipment, electrical components and related tools. Its name is now Maynards Electric, a division of VP Supply. The deal was finalized in mid-October. A purchase price was not disclosed. The deal gives VP Supply the ability to provide a complete mechanical package, which includes electric, plumbing, heating and lighting products, to customers, said Gary Curwin, the firm’s president. “It provides a lot of opportunities for us,” Curwin said. Maynards’ former president Bruce Hellman, who has retired, said the deal will bring new opportunities to Maynards. VP Supply will add about 30 employees from Maynards, boosting its workforce to roughly 430 people, Curwin said. Upgrades also will be made to Maynards’ showroom over the coming months, he added. VP Supply provides wholesale plumbing supplies; heating, ventilating and air-conditioning products; kitchen and bath products; industrial and contractor supplies; and renewable energy products and services. It has 17 branch locations and serves commercial and residential customers. The business, which celebrated its 50th year of operation in 2015, made its 14th consecutive appearance on the Rochester Chamber Top 100 list of fastest-growing private companies in 2016. The firm logs annual sales in excess of $100 million and is expecting sales this year—excluding Maynards—to increase 6 to 7 percent over last year. The addition of Maynards should grow VP Supply’s sales by some 8 percent annually, Curwin said. Elliot Curwin and longtime friend Marv Miller founded VP Supply in 1965, running operations from an 80,000-square-foot warehouse on Brown Street. Growth prompted a move to the Design Center at Winton Place. Curwin’s sons—Gary and Louis—began working at VP Supply as teenagers. Louis focused on sales, while Gary worked in operations. Both took full-time roles with the company after graduating from college. Louis Curwin, the firm’s secretary-treasurer, joined VP Supply full-time in 1978; Gary Curwin, now president, followed him in 1983. Elliot Curwin handed over primary responsibility for day-to-day operations of VP Supply to his sons in 1991; shortly after, they acquired Miller’s share of the business. Their father, who became president of the Rochester Red Wings and played an instrumental role in moving the team to Frontier Field, died in 2003 at age 70. The company has grown through acquisitions. In June, VP Supply acquired Dansville Electrical Supply Inc., in Dansville, Livingston County, a wholesaler and retailer of industrial electrical distribution equipment, electrical components and related tools. In January, VP Supply acquired J.E. Sawyer & Co. Inc. in Glens Falls, Warren County, whose offerings include plumbing, heating, kitchen, bath and industrial supplies. Curwin credits VP Supply’s success to its commitment to remain a family-run business, as well as to its employees, who put a focus on providing quality customer service. 11/11/2016 (c) 2016 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email email@example.com. What You're Saying There are no comments yet. Be the first to add yours! Post Your Own Comment
Maynards Electric Supply Frequently Asked Questions (FAQ)
Where is Maynards Electric Supply's headquarters?
Maynards Electric Supply's headquarters is located at 3445 Winton Place, Rochester.
What is Maynards Electric Supply's latest funding round?
Maynards Electric Supply's latest funding round is Acquired.
Who are the investors of Maynards Electric Supply?
Investors of Maynards Electric Supply include VP Supply.