Peerless Electronics distributes electrical and electronic components, such as backplanes, capacitors, circuit breakers, connectors, enclosures, fans, fuses, keypads, LCDs, light-emitting diodes (LEDs), optical encoders, power supplies, relays, resistors, sensors, switches, terminal blocks, thermostats, and wire. The company also provides value-added services, including bar coding, custom assemblies, engraving, hot stamping, packaging, and inventory management. Peerless Electronics was established as Peerless Radio in 1945 by Charles Shankman, who ran the company until his death in 1989.