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Anixter International Inc. (NYSE: AXE), Glenview, IL, No. 4 on MDM's list of the top 25 electrical distributors, has acquired Clark Security Products, Inc. and General Lock, LLC, a corporate affiliate of Clark, for $36.6 million.
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San Diego, CA-based Clark is a distributor of security products and locksmith supplies to commercial, industrial and government entities throughout the U.S., with distribution centers in San Diego, CA; Dallas, TX; Sacramento, CA; Denver, CO; Lexington, KY; Silver Spring, MD; Phoenix, AZ; and Kent, WA.
Annual sales for Clark are expected to be approximately $115 million for 2010.
"As a market leader, Clark immediately positions Anixter as a significant player in the access control market," says Bob Eck, Anixter president and CEO. "Combined with Anixter's existing security business, we will continue to lead the security market as it increasingly migrates towards IP (Internet Protocol) based systems. By leveraging Anixter's geographical presence and logistics capabilities, we will first expand the reach of Clark's product set across North America and then into international markets, which is consistent with our stated strategic growth initiatives."
Anixter International is a global distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts.