Swatara Township-based Schaedler Yesco Distribution Inc.,
a wholesale electrical supplier, today announced it has acquired Queen City
Electrical Supply Co. Inc., based in Allentown.
Queen City has served the Lehigh Valley for more than 40
years. It marks the 20th location in the commonwealth for SYD, a
fourth-generation family- and employee-owned company.
"This acquisition will provide SYD with the unique
opportunity to enter the Lehigh Valley market with a reputable,
well-established company with solid vendor relationships, and an experienced
team of people," Matt Brnik, SYD's president, said in a statement.
He declined to comment on the terms of the deal and
number of employees at Queen City.
Jerry Gelfman, Queen City's president for 17 years, will
continue to manage the Allentown location, according to SYD.
SYD finished 2013 with $138 million in total revenue,
according to Business Journal records. The company would not disclose 2014
figures or comment on the potential financial impact of the acquisition.
Source: Central
Penn Business Journal
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