9/18/2014 11:38:00 AM
NEWS BRIEFS
Anixter Completes Tri-Ed Acquisition
Anixter International completed its $420 million acquisition of Tri-Ed Security Products, a distributor of security and low-voltage technology products.
Headquartered in Woodbury, NY, Tri-Ed provides approximately 110,000 products to over 20,000 customers. The company employs over 600 people across 63 locations in the U.S. and Canada. Tri-Ed generated approximately $570 million in sales and $36 million in adjusted EBITDA over the trailing twelve months ending June 30, 2014.
Anixter reported OEM Supply – Fasteners sales increased 3.4% to $243.1 million in the second quarter of 2014. Fasteners operating income more than doubled to $12.2 million, operating margins of 5% compared to operating margins of 2.4% in the prior year quarter and 5.1% in the first quarter of 2014.
Fastener sales during the first six months of 2014 improved 6.4% to $492.6 million, with segment operating income more than doubling to $25 million.
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