CLEVELAND, OH -- Element Partners announces that Amp Electric has completed its first bolt-on acquisition for the platform investment in Leff Electric as part of a strategy to consolidate and build the premier electrical distribution company in Northeast Ohio and surrounding areas.
Gatto's headquarters in Cleveland and its Gatto-Portage Electric Supply Co. in Portage, Ohio, is the first expansion of Amp Electric, led by electrical distribution veteran Richard Worthy.
Under the new structure, Leff and Gatto will consolidate sourcing and back-office operations, but will continue to operate with distinct brands and sales. Through this structure, both companies will benefit from operating synergies that will improve customer service and employee satisfaction while retaining their unique identities and relationships with their customers. Lou Gatto said of the new ownership structure, "Bruce Leff and I have known each other for a long, long time. Even though we're now both owned by Amp, we'll still be competitors… but friendlier competitors."
Gatto Electric Supply was founded by two brothers, Lou Gatto Sr. and Vince Gatto Sr., in the garage of their family home. Their passion for the electrical industry led to the opening of the Cleveland location in 1987 and their Portage location in 1993. Lou Gatto, one of the seven owners in the Gatto family, will continue to lead the operation under the Gatto Electric Supply name.
Amp Electric is continuing to pursue the acquisition of companies that participate in complementary end markets and products in Northeastern Ohio and surrounding regions. Please contact Aaron Parker at 610-947-6411 ([email protected]) with any inquiries or acquisition candidates.