Crescent & Sprague Supply Co., Inc., a leading wholesale and industrial distributor of quality electrical, plumbing, HVAC, and waterworks supplies, has retained Heritage Equity Partners to seek financing options that would allow the company to better serve its customers and to capitalize on growth opportunities. The options Crescent & Sprague wishes to explore include debt or equity financing, a joint venture partner, or a buyer for the business.
Crescent Supply is one of Marietta's longest operating, locally owned businesses. Founded in 1896, Crescent Supply was originally located in the Harmar Historic District, Marietta. Following the 1913 flood, the company relocated to its present facility at the corner of Greene and Acme Streets, and at the same time, expanded its wholesale offerings to plumbing products and hardware.
In 1987 Crescent Supply merged with B.S. Sprague Electric, another 100-year old Marietta firm, to form the Crescent & Sprague Supply Co., Inc. Since then they have transitioned to a broader product and service offering with the addition of industrial accounts in the Mid-Ohio Valley.
With one of the largest product inventories in the Valley and a client base that has grown 300 percent since the acquisition of Sprague Electric, the company is now one of the region's leading wholesale and industrial distributors of electrical, plumbing, HVAC and waterworks supplies, servicing industrial accounts, schools, hospitals and colleges from two locations - an 80,000 square foot owned multi-building complex with an 11,000 square foot show room, sales offices and warehouse in Marietta, Ohio, and a 12,000 square foot leased sales office and warehouse in Athens, Ohio.