Electrical distributor Anixter International Inc., (NYSE: AXE), Glenview, IL, has agreed to acquire Tri-Ed, an independent distributor of security and low-voltage technology products from Audax Group for $420 million.
The acquisition broadens Anixter’s product lines and expands the company reach further into the construction markets.
Headquartered in Woodbury, NY, Tri-Ed serves four major segments of the security business including video, access control, intrusion detection and fire/life safety. The company employs more than 600 people in 63 locations in the US and Canada. Tri-Ed generated approximately $570 million in sales during the fiscal year ended June 30, 2014.