Border States Electric
- November 3, 2012 - 4:21 PM
Headquarters: Fargo, N.D.
Business: Eighth-largest U.S. electrical products wholesaler and supply-chain manager; 55 branches in 13 states serve electric and natural gas utilities, industrial customers and contractors.
History: Founded 1952 in North Dakota to serve utilities, especially rural cooperatives.
Employees: 1,500 overall; 216 at 10 locations in Minnesota.
Minnesota: Albertville, Alexandria, Bemidji, Brooklyn Park, Faribault, Mankato, Marshall, Rochester, St. Cloud, Willmar.
Other states: Arizona, Colorado, Iowa, Michigan, Montana, New Mexico, North Dakota, South Dakota, Tennessee, Texas, Wisconsin, Wyoming.
Ownership: In the early years, owned by founders and some managers. Established Employee Stock Ownership Plan in 1984 and became 100 percent employee-owned in 2000.
Recent acquisitions: Miller Electric (Wyo., 2004), Bates & Associates (Mich., 2004), Nunn Electric Supply (Texas, 2006), Minnesota Electric Supply (Minn., 2007), Harris Electric Supply (Tenn., 2008).
2012 revenue: $1.2 billion. Goal is $2 billion in sales in 2017.
Fiscal year ending March 31, 2012. Source: Border States Electric
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