Sonepar's North American Expansion Brings over $2B in Additional Revenue
Acquisition growth in 2024 includes 7 companies, 1700 new associates and 89 new branches
CHARLESTON, S.C., Nov. 14, 2024 /PRNewswire/ -- 2024 has been a transformative year for Sonepar as it continues to focus on strategic growth. Since 2021, Sonepar has closed 21 acquisitions in North America. The acquisition growth alone in 2024 consists of seven companies representing over $2B in additional revenue, approximately 1,700 new associates, and 89 new branches. Sonepar's North American acquisition strategy is key to the global success of the Sonepar Group.
Sonepar's mission is to continue as the strongest and most dynamic electrical distribution network across the entirety of North America. It seeks to combine local sales excellence with significant regional and global investments and capabilities to provide customers with the best distribution experience and associates with the most opportunities to succeed.
Philippe Delpech, President & CEO of Sonepar, commented:
"North America is our largest market, where Sonepar leads in building and industrial verticals serving customers with a best-in-class level of service. With 36 billion dollars in sales in 2023, Sonepar is the world leader in B2B electrical distribution of products and services, deploying a global automated supply chain and a proprietary omnichannel digital platform called Spark. Today, the USA is leading in size, processes, technology, and workforce quality. We welcome the more than 1,700 associates who joined the Sonepar family through these seven acquisitions and are already working on combining our strengths for the benefit of customers, suppliers and associates."
Rob Taylor, President of Sonepar Americas, said:
"Each acquisition is carefully considered, and we look to partner with the best local and regional distributors, which share our values and desire to grow. We truly believe that acquisitions are a strategic partnership that benefits all parties. We work closely with the leadership of companies we engage with to understand what makes them a success, with the goal of enhancing the local go-to-market approach and culture with significant investment and new capabilities. This strategy will continue to be an important focus for Sonepar across the Americas."
The statistics regarding Sonepar's investments in North America are striking. Sonepar has added numerous automated distribution centers and significantly increased its density branch network, now serving every province, territory and state in North America out of 548 total branches. It has also added new service offerings like panel shop design and assembly capabilities, and expanded expertise and product offerings in the solar and EV, industrial, broadband and utility segments. Sonepar's digital solutions such as Spark and the Digital Job Center are best-in-class, offering customers a seamless digital experience.
Sonepar will continue to grow organically and through acquisitions and make significant investments across its entire business.
About Sonepar
Sonepar is an independent family-owned company standing as the world leader in B-to-B distribution of electrical equipment, solutions, and services. In 2023, Sonepar achieved global sales of $36 billion.
SOURCE Sonepar
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