New York firm to acquire Bangor supplier of industrial equipment
Courtesy / Horizon Solutions
From left, Horizon Solutions owner and director Dick Wilson; Horizon President and CEO John Kerkhove; Horizon owner and executive chairman Jim Newton; N.H. Bragg President Jon Eames; and Horizon CFO Mike Herrmann.
Horizon Solutions LLC, of Rochester, N.Y., has signed an agreement to buy N.H. Bragg, an industrial and safety equipment supplier headquartered in Bangor.
According to a Horizon Solutions news release, the transaction is scheduled to close Jan. 1. Terms of the acquisition were not disclosed.
“Under Horizon Solutions ownership, N.H. Bragg will continue to operate under the N.H. Bragg name with the same employees, suppliers and customers,” said John Kerkhove, Horizon Solutions president and CEO.
Founded in 1854, N.H. Bragg has branches in Scarborough and Tewksbury, Mass. It has approximately 60 employees and provides industrial and safety supplies to more than 4,000 customers across New England. It serves paper mills, machine shops, construction sites and shipyards from its three stocking locations.
Horizon Solutions has 217 employees at 11 locations across New England and New York.
N.H. Bragg President Jon Eames will be vice president of the industrial and safety supply division across the Horizon Solutions footprint.
“This union will help us grow while maintaining the excellent quality and service our customers expect, expand our solution offerings and market reach, offer employees more opportunities and build upon our mutual core values,” Eames said in the release.
According to its website, N.H. Bragg began as a small supplier to local blacksmiths. It has an 82,000-square-foot warehouse in Bangor, and the company stocks more than 30,000 products, as well as providing customers with access to over 500,000 products from more than 500 brands.
Horizon Solutions provides electrical, automation, industrial, energy and safety products and services. Customers include industrial end-users, electrical contractors, equipment manufacturers and commercial, institutional and municipal facilities across New England and upstate New York.
The Bangor Daily News reported Bragg is in its sixth generation of family ownership. For financial purposes, the transaction between N.H. Bragg and Horizon is a sale, but it will function more as a merger, since Bragg family members will continue to be involved, Jim Newton, one of the owners of Horizon Solutions, and John Bragg, chairman of the board for N.H. Bragg, told the newspaper.
Most Recent
Most Recent
Comments