Jason Sandefur

Anixter International Inc. acquired wire and cable distributor IMS Inc. for $28.5 million cash. Manchester, CT-based IMS reported 2005 sales of $36 million, primarily in the northeastern and mid-Atlantic regions.
Anixter CEO Bob Grubbs called IMS a “great addition” to his company, and said the transaction would provide an immediate earnings boost.
“This acquisition fits with our strategy of acquiring distribution businesses that have a significant supply chain component to their customer offering,” stated Grubbs.
IMS is headquartered at 340 Progress Dr., Manchester, CT 06040. Tel: 860 649-4415 Fax 860 649-0806 Web: imswire.com
Glenview, IL-based Anixter had $3.85 billion in sales during 2005, including its $750 million Anixter Fasteners division. �2006 FastenerNews.com