1. When was T & H
established?
Turtle & Hughes was founded in 1923, in New York City,
by Jack Turtle and Bob Hughes, two friends from . The company
started with 4 employees and has grown to a workforce of over
350 professionals.
2. How large is the company?
In 2002, Electrical Wholesaling magazine ranked Turtle & Hughes
26th in the United States Electrical Distribution
industry. Privately owned, T&H has
expanded through internal growth and selective acquisitions
to about $250 million in total revenues. With a total
of eight branches, including six located throughout New Jersey
and Connecticut and two in Texas, we have become a major
supplier to both domestic and international customers.
3. Is the Turtle family still in
the business?
Suzanne Turtle Millard, President, is the third
generation of Turtles to run the company. She was recently
named by Working Woman Magazine as one of the
top 50 women business owners in the country. Jack Turtle,
son of the founder and Sue's dad, had three daughters and
no sons, which ended his line. But Jayne Millard Clark
carries on the tradition as the forth generation the Turtle family
to work in the
company.
4. How would you describe
the company?
Turtle & Hughes is a full service industrial and electrical distributor
serving the industrial MRO marketplace. The company provides
a broad range of maintenance, repair, and operating
(MRO) services, including integrated supply, single-sourcing,
systems contracts, plant crib management,
blanket orders, and other less formal resupply agreements.
Back to top
5. How has T & H grown so fast?
In 1993, Turtle & Hughes began a major diversification effort into
the Integrated Supply market. This was a market that
begged for suppliers to
inventory a broad
range of industrial MRO
products to help manufacturers reduce
the number of
vendors they had to deal with. T
& H began marketing itself to customers as
a low-cost, single-source supplier and succeeded to the point where we are
now recognized as one of the best in the industry.
The diversification effort was also accomplished through
an aggressive acquisition strategy. Starting in 1993,
T & H purchased Siliter/Klebes
Supply and Lindquist Industrial Supply, both Connecticut companies. Then
in 1995, it acquired Schlecter
Industrial Supply in New Jersey. And in 1999, the company acquired
Gulf Coast Supply in Texas. Most recently, in 2001, Franklin
Smith Electric, of New Jersey, became a part of Turtle & Hughes.
6. What is the fastest growing segment of the company's business?
Integrated
supply is currently the fastest growing segment of the
company's business. Turtle & Hughes is a recognized
leader in this industry, maintaining integrated supply
inventories in Connecticut, Georgia, Massachusetts, New
Hampshire, New Jersey, Pennsylvania, South Carolina,
and Vermont. These locations service some of the largest
companies in the United States.
7. Does T & H
ship overseas?
Turtle & Hughes has over 60 years experience in
the export marketplace, servicing overseas clients with
American electrical and industrial
equipment.
8. Do employees share in the ownership
of the company?
In 1975, an employee stock ownership plan (ESOP) was established,
and today there are 350 employee shareholders owning 23% of
the corporation's stock.
9. Do women participate in the ownership of the company?
Currently, 51% of the common stock is owned by women, and
the company is certified by the states of Connecticut, New
Jersey, New York, Pennsylvania, and Texas as a women-owned
business enterprise (WBE) . T & H is ranked among the top
50 women-owned business enterprises in the United States.
Back to top
|
