Van Meter completes Bright acquisition

Cedar Rapids based Van Meter has completed its purchase of Bright Electrical Supply, a more than century-old Chicago lighting distributor.

Kevin Powell, Van Meter president and CEO, said in a news release that Bright Electrical Supply is a strong and reputable company in a large and growing market.

'We look forward to building on Bright's more than 100 years of success, integrating our work teams and bringing a more comprehensive offering of electrical and mechanical solutions to the industrial, commercial and contractor customers in the greater Chicago area,” Powell said.

Van Meter's Chicago location will continue to be known as Bright Electric. 'Powered by Van Meter” will be added to the name to begin associating Bright with Van Meter and to indicate new ownership.

'The Bright Electric brand is important,” Powell said. 'It is a name known and recognized by customers in the Chicago market.

'Every consideration and effort is being made to ensure that the transition of ownership is seamless and transparent in regard to customer and supplier experiences.”

The acquisition of Bright Electrical Supply expands Van Meter's presence in the Midwest to 15 locations. The employee-owned company also plans to open an additional location in Omaha in the second quarter of this year.

Van Meter last month announced that it had purchased a 25 percent stake in Eyedro Green Solutions, an Ontario, Canada, company that makes electronic systems that monitor residential and commercial electricity consumption. It marked the first time that the company had taken an equity stake in another business.

Scott Cornish, Van Meter's vice president of diversified business, will have a seat on Eyedro's board of directors.

Van Meter, with more than 425 employee owners, offers products and services in lighting, data communications, utility, automation, power transmission, renewable energy and core electrical components.