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Van Meter has been a part-owner of fellow electrical distributor Werner for 20 years.
Apr 7th, 2021
Van Meter Inc.
CEDAR RAPIDS, IA Van Meter Inc., a 50 percent partner in Werner Ventures LLC, the legal entity that owns Minnesota-based Werner Electric, announced Monday their intent to make a stock purchase of the remaining business from MacDonald Ventures. The sale is expected to close on April 30.
“For 20 years, Van Meter and the MacDonald family have proudly owned and supported a successful and growing business in Minnesota. We find ourselves mutually understanding that our shared Minnesota business could reach even greater potential through the efficiencies and market influence gained by being owned by one company,” said Lura McBride, President and CEO of Van Meter.
Van Meter Inc. to buy full ownership stake in Minnesota-based Werner Electric
BY BUSINESS RECORD STAFF Tuesday, April 6, 2021 2:52 PM Cedar Rapids-based electrical wholesaler Van Meter Inc. announced its intent to become 100% owner of the parent company of Werner Electric, a Minnesota-based electrical supplier, the Corridor Business Journal reported. Van Meter Inc. is currently a 50% partner in Werner Ventures LLC, the legal entity that owns Werner Electric. It now plans a stock purchase of the remaining business from MacDonald Ventures. The sale is expected to close on April 30. Werner Electric, which has 325 employees, operates six locations in Minnesota and two in Wisconsin. The joint ownership model of Werner Electric of Minnesota began in 2001 when Van Meter and MacDonald Ventures partnered to purchase an independent electrical distributor known as Northland Electric.
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