Rochester-based Horizon SolutionsTM, a distributor of electrical, industrial, energy and safety products and services, recently completed its acquisition of Bangor, Maine,-based N.H. Bragg, a deal made possible with financing from M&T Bank.
The M&T-financed acquisition grows Horizon Solutions’ operations in New England, expanding its employee base to more than 275 and positioning the combined company for sustained growth in the years ahead. Horizon Solutions and N.H. Bragg serve the equipment needs of manufacturers, contractors, machine builders and facilities managers, as well as other
industries.
“This acquisition brings together two companies that are steeped in history. Horizon Solutions traces its origins back to 1857, and N.H. Bragg was founded just a few years earlier in 1854. For more than 160 years, they’ve provided local manufacturers and builders with the solutions and
tools they need to succeed,” said Dan Burns, M&T Bank regional president for Rochester.
“As a bank that itself was founded in 1856 to serve Upstate New York’s burgeoning manufacturing industry, our team at M&T Bank was excited to have this opportunity to help our customer build on their history and grow their business.”
“At Horizon Solutions, we recognized an opportunity to expand our firm by acquiring N.H. Bragg, a historic company that shares our company culture and commitment to serving customers,” said Horizon Solutions president and CEO John Kerkhove. “M&T Bank understood our vision and its potential to generate sustained growth for our company. The capital they provided helped us complete the deal and enter the next chapter in our company’s history.”
M&T Bank provided acquisition and working capital financing to help Horizon Solutions complete its acquisition of N.H. Bragg. The acquisition makes the company a dominant regional distributor of products and services in the vertical industries it serves.
Under the ownership of Horizon Solutions, N.H. Bragg will continue to operate under the N.H. Bragg name with the same employees, suppliers and customers. Currently, N.H. Bragg serves more than 4,000 customers across New England from its locations in Bangor, Maine; Scarborough, Maine; and Tewksbury, Massachusetts.
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