Heritage Partners makes electrical products investment

The Boston-based firm has recapitalised One Source Distributors, an electrical distribution company in what the firm says is in a prime geographic location.

Heritage Partners has made an investment in Oceanside, California-based OneSource Distributors, a family-owned electrical products distribution company. Terms of the transaction were not disclosed.

One Source provides full lines of electrical parts, electronic components, industrial automation, lighting and switchgear products. It sells to five primary customer segments: utility, original equipment manufacturing, public works contractors, and industrial and commercial maintenance, repair and operations.

The company operates three regional sales divisions in Southern California. Heritage general partner Mark Jrolf says this has been one of the largest and fastest growing electrical products markets in the country.

“The industry has seen an attractive growth rate in the last few years,” he said. “Many of these customers are looking to outsource their inventory management and inventory purchasing decisions, and they’re looking to high-quality distributors to pick up that business.”

One Source, which had 2005 sales of approximately $170 million, was wholly owned by its two founders, president and CEO Bob Zamarripa and executive vice president Paul Judge.

Heritage Partners focuses on family-owned businesses and closely-held customers through its trademarked Private IPO structure, which enables the owners of successful middle-market companies to obtain liquidity while still maintaining a large equity investment and ongoing control of their business.