Electrical wholesaler purchased by private investors
Richmond Electric Supply Company, Inc. has been sold to RESCO Acquisition, an investment group comprised of RESCO’s recently appointed CEO, Mike Bourn, and other private investors for an undisclosed sum.
Darryl Harman, who founded the company in 1983, was the seller. Matrix Capital Markets Group served as the financial adviser to RESCO Acquisitions.
RESCO operates as a full-line, stocking electrical wholesale distributor that serves residential and commercial contractors, the government and military, and industrial and OEM markets both on a regional and national scale. RESCO is headquartered in Richmond, Va., with additional locations in Norfolk and Farmville, Va., which opened in the fall of this year.