Graybar history

In 1876, he filed a caveat with the United States Patent Office, announcing his intention to soon patent an invention that would transmit vocal sounds telegraphically.

After its defeat in court, Western Union dropped out of the telephone business, and in 1881 Bell bought a controlling interest in Western Electric and made it part of the Bell system, which had a number of companies spread across the country making telephones.

Thus, in 1882 Western Electric became Bell's exclusive manufacturer of telephones.

In 1894 Western Electric's engineering department began to move away from invention, electing instead to improve upon the telephone in light of the impending expiration of Bell's original patent.

Western Union acquired both Gray's and Edison's telephone patents to challenge the American Bell Telephony Company (renamed AT&T in 1899), which led to a patent infringement suit and Bell ultimately being named the inventor of the telephone.

In 1907, however, the company returned to an emphasis on original research and development.

Consolidated Electrical Distributors (CED) profile and corporate video Consolidated Electrical Distributors (CED), an electric-equipment wholesaler, started in 1913 as Incandescent Supply.

On December 31, 1920, the supply department of Western Electric was divided by forming operating divisions for general electrical supplies and telephone equipment.

In 1923, the general supply business opened separate general offices in the newly constructed Pershing Square Building in New York City.

The Supply Department became very successful, and it was spun off as a separate entity named Graybar Electric Company Inc. in 1925.

Graybar was spun off by Western Electric Manufacturing Company in 1926, its name bearing homage to the two principal founders of Western Electric: Alisha Gray and Enos Barton.

On January 1, 1927, Western Electric's holdings in Graybar were transferred to Electric Research Holdings, a Western Electric company.

In 1928 Graybar moved its headquarters to the Graybar Building located at 420 Lexington Avenue in New York City.

1929: Employees acquire Graybar for $3 million in cash and $6 million in stock.

1941: Employees buy back last of Western Union stock.

The corporate headquarters moved from the Graybar Building in New York City to Clayton, Missouri in 1982.

By this time nine of the 16 distribution centers started in 1997 were operational and the remaining seven were only months away from opening.

In 2000 Graybar revenues improved to $5.2 billion, while net income topped $66.2 million.

2001: Company places $100 million in bonds, the largest financing effort in its history.

Sales for 2007 were more than $5.25 billion, positioning Graybar at #455 on the Fortune 500 listing and #55 for privately held companies.

In 2008, Graybar rose to the #439 spot on the Fortune 500 listing.

Sales for 2009 were $4.4 billion, positioning Graybar at #439 on the Fortune 500 listing and #64 on Forbes List of America’s Largest Private Companies.

Graybar finished 2012 with net sales of $5.4 billion and reported net income of $86.6 million.

In 2013, Graybar finished the year with net sales of $5.7 billion and net income of $81.1 million.

Sales for 2014 were $6 billion, with net income of $87.4 million.

In 2015, Graybar also acquired Advantage Industrial Automation in Duluth, Georgia.