FARGO, N.D. — Border States Electric (BSE) reached an agreement to acquire Kriz-Davis Co., an electrical distributor headquartered in Grand Island, Nebraska. Both companies are 100 percent employee-owned through Employee Stock Ownership Plans (ESOPs). Kriz-Davis Co. and its wholly owned subsidiary, Chapman Metering, will join the Border States family on August 28, 2017 (pending regulatory approval).
“Kriz-Davis Co. is a company we have admired for decades. They are a great cultural, geographic and market fit,” said Tammy Miller, CEO at Border States. “We are both 100 percent employee-owned American companies serving the construction, industrial and utility markets. We are wired the same way. As owners, we are wired to deliver solutions, value and a customer-first mindset.”
“Over the years, we have come to know and respect Border States and their leadership. Our two companies share the same values based on doing what’s right for our customers, employee-owners, vendors and communities. Border States also maintains a strong belief in the power of employee-ownership,” said Tim Berry, CEO at Kriz-Davis Co. “By joining with Border States, it only adds to the opportunities for customers, vendors and our employee-owners.”
Kriz-Davis Co. has been in business for more than 70 years. With nearly 250 employee-owners, they generate $200 million in annual sales through 19 locations (including Chapman Metering) in Nebraska, Iowa, Kansas, Oklahoma, Texas and Missouri.
With the addition of Kriz-Davis Co., BSE will have approximately 2,500 employee-owners in 111 branches across 20 states. Corporate headquarters are in Fargo, North Dakota.