116 3rd St SE
Cedar Rapids, Iowa 52401
Van Meter expanding east, west
Van Meter, a Cedar Rapids-based distributor of electrical and mechanical supplies, will be expanding its business presence to the east and west in 2016.
The employee-owned company has agreed to buy Bright Electrical Supply Co. of Chicago, known for its expertise in lighting distribution. Terms of the transaction were not disclosed.
'The purchase is expected to be complete by Dec. 31,” said Kevin Powell, Van Meter's president and CEO, in a news release.
'With up to 40 percent of a commercial building's energy consumption being attributable to lighting and a tremendous amount of innovation taking place among leading lighting manufacturers, this is an area we want to focus on.”
Powell said Van Meter also plans to open a branch in Omaha in the second quarter of next year. He said the company has been servicing customer projects and doing business in Nebraska for several years.
'We're committed to growing with our customers and are confident the time is right for us to have a physical presence in Omaha,” Powell said. 'A key part of our growth strategy is to expand into new markets.”
With the purchase of Bright Electrical Supply and the new Omaha office, Van Meter will have 16 locations in the Midwest.
Van Meter, founded in 1928, claims to be Iowa's largest electrical and mechanical product distributor, selling more than 800 brands to contractor, industrial and commercial customers nationwide as well as internationally. The company's markets include lighting, data communications, utility, automation, power transmission, renewable energy and core electrical components.