July 17, 2023
Graybar Expands in Baltimore-DC: Acquires Shepherd Electric
Shepherd Electric's $429 million revenue strengthens Graybar's reach in Mid-Atlantic
Graybar announced today that it has completed the acquisition of Shepherd Electric Supply, a Baltimore-based electrical distributor. The move expands Graybar's footprint in the Washington-Baltimore region.
Shepherd, with a reported 322 employees, generated revenue of $429 million in 2022, according to Electrical Wholesaling Magazine, ranking 34th on the publication’s Top 150 Electrical Distributors Listing. In 2020, Shepherd's workforce was reported to be 295.
Shepherd Electric Supply currently operates five locations across Maryland, Virginia, and the District of Columbia. Shepherd will maintain its current name, leadership, employees, and suppliers as a subsidiary of Graybar. Shepherd’s five locations are:
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Baltimore, MD
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Laurel, MD
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Frederick, MD
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Washington, DC
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Sterling, VA
A lighting agent in the Baltimore-Washington marketplace today informed us that they received communication from Shepherd Electric emphasizing that no imminent changes are planned and that local Graybar and Shepherd branches would not be collaborating or sharing quotes.
Graybar presently operates three locations in the Metropolitan Baltimore and DC areas: Baltimore, Maryland; Lanham, Maryland and Sterling, Virginia. The Baltimore and Sterling locations of Graybar are notably situated in close proximity to existing Shepherd facilities:
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Graybar Sterling is 1.4 miles from the Shepherd Electric’s Sterling, Virginia location.
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Graybar Baltimore is a 2.4 mile drive on Pulaski Highway from Shepherd Electric’s Baltimore location. There are two Dunkin' locations on the route, each with a drive-thru.
In 2023, the Shepherd earned recognition from both the Baltimore Business Journal, where it ranked 13th among the largest private firms, and the Baltimore Sun, where it was acknowledged as a Top Workplace.
“Shepherd is a highly respected company that aligns with Graybar’s values, culture and strategy,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “With its longstanding presence and strength in the Washington-Baltimore metropolitan area, we believe this acquisition provides a solid foundation for accelerating our growth. We are delighted to welcome the Shepherd team to Graybar and look forward to achieving success together.”
