Last month, electronic components and embedded solutions distributor Avnet took another step toward boosting its increasingly diverse portfolio with the acquisition of Dragon Innovation. Dragon Innovation's "hardware manufacturing expertise augments Avnet’s design and supply chain capabilities beyond electronic components to encompass the entire finished product," Avnet CEO Bill Amelio said.
The newly acquired company will also help Phoenix, AZ-based Avnet develop "new technology products by simplifying the manufacturing process, particularly for those projects that advance internet of things."
This move fits with recent acquisitions by Avnet, which in the past year spun off its Technology Solutions business and acquired Premier Farnell and Hackster. It then followed those deals with a rebranding campaign to reflect the evolving company.
"You are either the disrupter or you get disrupted, so it’s important to choose the former versus the latter," Amelio said in the recent MDM Interview, Behind Avnet’s Rebranding Campaign. "I think that’s what our attempts are as far as the strategy that we’ve put together, and so far, so good. It’s playing out well."
In other M&A activity last month, the building materials & construction sector produced the largest deal, with Beacon Roofing Supply Inc., Herndon, VA, agreeing to acquire Allied Building Products Corp., East Rutherford, NJ, from CRH plc for $2.6 billion.
Also in the sector, roofing distribution holding company SRS Distribution, McKinney, TX, acquired National Building Supply Corp., a family-owned distributor of residential building products with locations in New Jersey.
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Here are other key deals that occurred in August 2017:
FCX Performance Acquires Encova Inc.
Airgas Agrees to Sell Subsidiary to Hudson Technologies Inc.
MSC Acquires DECO Tool Supply Co.
HD Supply Waterworks Changes Name to Core & Main
Bolts & Nuts Acquires Challenger Component Services
Bunzl Acquires Chinese PPE Distributor
United Rentals Agrees to Acquire Neff Rental
Brady Acquires F&S Distributors
Crescent Electric Acquires Womack Electric Supply
