((L-R) Jack Hodson (warehouse assistant), Dan Drake (owner), Bill Warrick (sales manager), Greg Perkins (warehouse manager) and Justin Schroeder (operations manager) | Photo courtesy of Industrial Applied Electric)
In a world where small businesses are increasingly being swallowed by institutional investors and private equity firms, the story of Industrial Applied Electric is a powerful reminder of what makes Central Oregon unique. It’s a story of a young family choosing risk over stability to carry on a local legacy — a tale of courage and commitment to community.
For over four decades, Industrial Applied Electric has been a lifeline for the region’s essential industries, from logging to construction. When a critical piece of machinery breaks down, they are the ones with the hard-to-find part and the expert knowledge to get it running again. Their mission is clear: to be a trusted, community-focused procurement partner with the best service, availability and delivery to enable those building and maintaining Central Oregon to maximize uptime, efficiency and profitability.
Enter Dan Drake, a CPA in his mid-thirties. He and his wife were drawn to Bend years ago, captivated by its community and landscape. With a three-year-old and a one-year-old at home, Dan felt the call for a different kind of life — one built on purpose, not just a paycheck. He was seeking a business with soul, and he found it in Industrial Applied Electric. After a months-long negotiation, the Drakes successfully purchased the business for over $2 million, rewarding founder Huston Walter and his family for building a lasting legacy.
Rather than seeing a small company, Dan saw a legacy worth preserving. He saw the company’s long-tenured employees, the deep trust of its customers and the critical role it plays in the community. It was a leap of faith to leave the security of his career and commit to this purchase with no outside investment, not even from family. This bold move was a powerful statement of their belief in Central Oregon.
Now, as the new owner, Dan is committed to honoring the past while building the future. He’s not here to strip the business for parts; he’s here to modernize it, with plans to digitize operations and expand services. His goal is to double sales in the next five years, and the results are already clear: the company has achieved over 30 percent year-over-year growth, doubled its local employment from three to six, and raised wages on top of that. This isn’t just a business plan; it’s a promise to create an employer of choice in the region, with strong values and a culture where giving back is ingrained.
In a time when it’s easy to feel like the soul of small business is fading, the story of Industrial Applied Electric is a bright light. It’s proof that with belief, courage and a deep love for community, a family can do more than just buy a business — they can become a part of its enduring legacy. The Drake family has poured everything into this new chapter, and they believe that with the continued support of the Central Oregon community, this local service and legacy will thrive for generations to come.
