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Financing Alternative Benchmarking: Lester Electronics and Juniper Networks

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Financing Alternative Benchmarking: Lester Electronics and Juniper Networks

Lester Electronics, Inc. (LEI) was founded in 1978 by Bernard Lester after entering into an exclusive United States distribution contract with Korean based Shang-wa Electronics. LEI is a consumer and industrial electronics parts master distributor that markets their products to small and medium sized original equipment manufacturers, repair facilities, and small local distributors throughout the Americas and Europe. However, Lester has yet to market domestic made parts outside of the United States. LEI has enjoyed a steady incline of success since operations began, largely in part to the addition of several new components to the product line and the creation of inroads with two large domestic manufacturers that use capacitors in both consumer and industrial products. Lester electronics went public in 1984 and earns $500 million in revenues annually.

The distribution agreement with Shang-wa Electronics has thus far been accommodating and successful for both parties. This agreement gives LEI the exclusive right to sell Shang-wa capacitors in the United States for 65 years as long as LEI maintains a minimum annual purchase of $1 million. Shang-wa cannot knowingly sell to any individual or company that will distribute

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