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Wesco Aircraft Holdings, Inc. (NYSE: WAIR), Valencia, CA, has agreed to acquire Haas Group Inc., West Chester, PA, for $550 million in cash. Haas had sales of $573.5 million in 2012.
Haas is a global provider of chemical supply chain management solutions to the commercial aerospace, airline, military energy, and other markets. It has 35 distribution hubs and forward stocking locations around the world.
“We believe that the acquisition of Haas will provide significant opportunities for Wesco to continue growing at above-market rates," Wesco CEO Randy Snyder said. "The culture, capabilities, and scope of Haas’ global business are an ideal fit for the company. The acquisition of Haas will add over 125,000 SKUs, value added supply chain management solutions and a world class group of over 1,300 employees to Wesco.”
The acquisition will expand Wesco's presence in the global chemical supply chain management market.