Integrated Electrical Services, Inc. (IES) recently announced that it has concluded the sale of Key Electric Supply, its electrical distribution business. Key Electric Supply, located in Houston, Texas, is a distributor of wiring, lighting, electrical distribution, power control, and generators for residential and commercial applications.
Michael J. Caliel, IES president and CEO, says, “As we continue to assess our operations and focus on our electrical and communications businesses, we concluded this was a constructive opportunity to divest another non-core business. As we have stated numerous times, our strategy is to strengthen our core portfolio of electrical and communications businesses that are critical to the future success of the company and ensure the company is well positioned to make the most of upcoming opportunities. Moreover, we believe the transition of ownership to Elliott Electric Supply, Inc. will be a positive development for both Elliott and Key’s customers and employees.”
Source: Integrated Electrical Services, Inc.