February 03, 1998
Hughes Supply Acquires Chad Supply
Hughes Supply Inc., Orlando, FL, announced Feb. 2 that it has completed the acquisition of Chad Supply Inc., a Tampa-based wholesale distribution company. Chad, a distributor of repair and maintenance items to the multihousing industry, markets its products through its Maintenance Catalog, 70-person direct sales force and direct advertising. Since its founding in 1974, Chad has grown to 16 distribution centers serving a regional customer base in nine states with $60 million in revenues for 1997. "Chad has enjoyed a 26 percent compounded annual growth rate in revenues over the last five years," said David H. Hughes, chairman and CEO of Hughes, a leading distributor of construction and industrial materials. Terms of the transaction were not disclosed.