READING PA – Fromm, an electrical supply company that operates a facility at 365 E. High St. in Pottstown, this year is marking its 100th anniversary in business as one of the Mid-Atlantic region’s largest electrical supply and service firms, it said.
The firm got its start in 1923 under Alexander Fromm in a small storefront staffed by four employees selling kitchen appliances, according to the company.
Current CEO Michael Fromm – who along with his brother, Lou, bought the company from their family in 2007 – attributes its continued success “to prioritizing long-term relationships over short-term gain.” The company’s “allegiance is to our employees, customers and communities, rather than to Wall Street analysts,” he added.
The 100-year mark is a rare milestone for many American businesses, the company observed.
U.S. Small Business Administration statistics indicate that fewer than one of every 1,000 companies survive that long, the company stated. Bloomberg Businessweek, it added, estimates only 40 percent of family-owned companies reach the second generation, and just 13 percent are passed down to a third generation.
Fromm serves customers in the construction, manufacturing, property management, defense, and utility industries. It operates eight supply counters, two design centers, and a main warehouse in Pennsylvania.
Company photo provided by Fromm
Background photo by Diz Play on Unsplash, used under license