Crescent Electric Supply Company, a wholesale electric supply distribution company based in East Dubuque, Ill., was founded in 1919 by Titus B. Schmid and today serves the electrical, commercial construction, industrial, government, utilities, hospitality, energy and datacomm markets. Crescent has 140 distribution facilities in 28 states and employs 1,750 people.
At the insistence of Titusâs wife, Josephine (nicknamed Doden), all seven of their children â four sons and three daughters â owned the company equally. All seven worked in the business at some point. Tom Schmid succeeded his father, Titus, as president in 1966 and served until he passed away from cancer in 1974. Tomâs brother Jim was named the next president and held that post until his death in 2001. A non-family member became Jimâs successor, and non-family CEOs have led the business ever since. The family rallied around the new leadership, and the third generation realized it was now their responsibility to become stewards of the family business.