06/13/2024
Citizens Advises Electric Supply Center on its Pending Acquisition by NorthEast Electrical, a Sonepar Company
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Electric Supply Center on its pending acquisition by NorthEast Electrical, a Sonepar Company. The transaction is subject to standard regulatory approval and is expected to close at the end of June.
Headquartered in Burlington, MA, ESC is a full-line distributor of electrical products and provides a suite of value-added services to its commercial contractor customer base.
ESC Owner and President Larry LaFreniere said: “I would like to thank the M&A team at Citizens for their advice and guidance throughout the process. Their M&A expertise and industry experience were critical to achieving this exceptional outcome for me and my company.”
Citizens M&A Advisory Managing Director David Dunstan said: “It was a pleasure working with Larry and his high-performing team. They built a great company driven by a customer-focused, growth-oriented culture that is well-recognized by their longstanding customers and employees. I look forward to seeing what ESC and NorthEast can do together.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens JMP Securities, LLC, a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $220.4 billion in assets as of March 31, 2024. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and more than 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success..
Contact: Frank Quaratiello
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