Transaction handled by Cornerstone Business Services, Inc.
For Immediate Release
March 22, 2013
(Green Bay, WI) – Cornerstone Business Services, Inc. is pleased to announce the acquisition of Lake Electric Supply by Crescent Electric Supply Co.
Lake Electric, located in Storm Lake, Iowa, is a privately owned independent electrical distributor serving a diverse customer base in Storm Lake and the surrounding area. The company will continue to use the Lake Electric name and customers will be served from the current location.
Crescent Electric will leverage strengths of local inventory support including 130 stocking locations, and Lake Electric’s outstanding reputation for customer service. Crescent Electric located in East Dubuque, Ill will expand its market coverage in Iowa and the acquisition provides an excellent platform for growth.
Jason Muenster of Cornerstone Business Services, Inc. acted as an advisor to Lake Electric Supply by preparing marketing materials and contacting potential acquirers, evaluating competing indications of interest, structuring the transaction and participating in negotiations.
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