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Anixter International Inc. (NYSE: AXE), Glenview, IL, No. 6 on MDM's list of top electrical distributors, has acquired Peru-based Jorvex, S.A.
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Jorvex, headquartered in Lima, is a distributor of electrical wire and cable products to commercial, industrial and government entities in Peru, with major distribution centers in Lima, Arequipa and Chiclayo. Annual sales for Jorvex were $115 million for 2011 and Anixter expects the acquisition to be immediately accretive in the second half of 2012.
"…The acquisition of Jorvex represents an important step with our Emerging Markets growth initiative while also leveraging Anixter's existing geographical presence and logistics capabilities,” Anixter President and CEO Bob Eck said. “Furthermore, as a market leader, Jorvex immediately positions Anixter as a stronger and more significant player in the Andean market.”
Founded in 1957, Anixter is a distributor of communication and security products, electrical and electronic wire and cable, fasteners and other small parts, and has locations in 260 cities in more than 50 countries.