8/11/2014 11:52:00 AM
NEWS BRIEFS
Anixter To Acquire Security Products Distributorship
Anixter International agreed to acquire Tri-Ed, a distributor of security and low-voltage technology products, from Audax Group for $420 million.
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.
“Our customers will benefit from a broader set of products and solutions in the areas of video, access control, fire/life safety, and intrusion detection,” stated Anixter CEO Bob Eck.
“In addition, this transaction provides access to the residential construction end market at an attractive point in the recovery cycle as well as to a community of security integrators and dealers not currently serviced by Anixter.”
The transaction is expected to close by the end of September.
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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• Report: Global Industrial Fasteners Market to Reach $15.9 Billion By 2019
• Anixter International Leadership Selling Stock
Related Links:
• Tri-Ed
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