Expanding its offering of fasteners in the OEM market, Anixter International Inc. plans to buy U.K.-based Infast Group Plc in a deal it said was worth $72.2 million.
Infast distributes fasteners and other inventory components to original equipment manufacturers. The company, which has about 900 employees, operates 25 distribution centers in the United Kingdom and six distribution centers in the United States.
Robert W. Grubbs, president and CEO of Anixter International, said, “The addition of the Infast operations to our existing OEM supply business is another significant step in positioning ourselves as a leader in the supply of fasteners and other small parts to original equipment manufacturers, service organizations and government support operations.”
Anixter bought three fasteners distributors in the past three years. They include Pentacon Inc., Chatsworth, Calif., Distribution Dynamics Inc., Eden Prairie, Minn., and U.K.-based Walters Hexagon Group Ltd. Anixter recently combined these acquisitions, and they now operate under the Anixter Fasteners brand name.