The Republic Companies announced its plans to buy the assets of Yeomans Distributing Co. in Peoria, IL. Republic is a Davenport, IA-based company providing HVACR, electrical, and energy management products.
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. According to company officials, the synergies between Yeomans' and Republic's approach to customers and community service are key components to this strategic acquisition.
"We're excited about the merger for several reasons,” said Andy Armstrong, vice president of Johnson Controls, the manufacturer of York and Luxaire Heating and Cooling Products. “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."
The deal is expected to close in early to mid-May, 2014.