The Republic Companies, a Quad City-based company providing HVAC/R, electrical, and energy management products and solutions, announced an agreement to acquire the assets of Yeomans Distributing Company headquartered in Peoria, Illinois.
Yeomans distributes York Air Conditioning and Heating Products and Bosch Geothermal and Boiler equipment and supplies to 45 counties in Northern and Central Illinois. In addition to many other product lines, Republic distributes York, Luxaire, and Bosch equipment to 78 counties in Iowa, Western Illinois and Southern Wisconsin. The synergies between Yeomans’ and Republic’s approach to customers and community service are key components to this strategic acquisition. Republic’s brand promise to provide the products, technical knowledge, customer service and fast response times will compliment Yeomans’ strengths and provide additional resources to Yeomans customers.
Andy Armstrong, Vice President of Johnson Controls, the manufacturer of York and Luxaire Heating and Cooling Products, remarked, “We’re excited about the merger for several reasons. We’ve been working with Republic for several years and know that their culture and strategies will blend very well with Yeomans. We also feel that the increased size of the combined business will create a more formidable competitor. Taking the best programs and strategies from both companies will create a value proposition which will move dealer and customer service to the next level.”
“Both organizations share a rich heritage, were built on traditional Midwestern values, are family oriented, and provide exceptional relationship-based technical expertise. This transaction provides the opportunity for Republic to expand our footprint throughout Northern and Central Illinois and add a very strong residential and commercial market to our company,” stated Mark Kilmer, President of Republic.
Guy Pauley, Vice President of Republic’s Mechanical Division commented “With this strategic acquisition, we look to enhance Yeomans customers by providing them with additional operational resources, expanded products and services, increased technology, refrigerant management, business development, and marketing and technical training expertise.”
Rick Cudd, Republic’s Commercial Equipment Vice President stated, “Our commercial group is excited to provide Yeomans’ employees and customers with expanded commercial support, access to a wider spectrum of equipment solutions, bench strength, and design capabilities.”
Brad Johnson, Vice President of Yeomans Distributing Company added, “This strategic merger will deliver significant value to our Northern and Central Illinois customers, allowing them to participate in many of Republic’s outstanding programs. Together, we create a stronger, more robust company, and I’m energized and excited that our employees and customers will be able to benefit from Republic’s vision.”
The deal is expected to close in early to mid-May, 2014.