Anixter International Inc., Glenview, IL, a distributor of communication products, electrical and electronic wire and cable, and a distributor of fasteners and other small parts, has acquired IMS Inc. for $28.5 million in cash.
Manchester, CT-based IMS is a wire and cable distributor to OEM and Electronic Manufacturing Services companies. For the full year 2005, IMS had sales of $36 million in the northeastern and mid-Atlantic regions of the U.S.
'It is a great addition to our existing electrical and electronic wire and cable product and service offering to the OEM and EMS marketplaces. This acquisition will leverage our existing infrastructure and provide us with an improved position in this important component of the overall electrical wire and cable market,' Anixter President and CEO Bob Grubbs said.