2007 FIN – Anixter Continues European Acquisitions
FASTENER HISTORY
2007 FIN – Anixter Continues European Acquisitions
May 22, 2007 FIN – Continuing its expansion in Europe, Anixter International Inc. acquired aerospace fastener distributor Eurofast SAS from Lisi SA for $27 million in cash. For 2007, Collegien, France-based Eurofast is expected to generate sales of approximately $22 million.
“This acquisition is another step in the geographic expansion of our OEM Supply business through the addition of important customers primarily within France in an end market where we have little penetration today within Europe,” commented Anixter CEO Robert Grubbs.
France-based LISI Aerospace is the third-largest manufacturer of aeronautical assembly components in the world. The company employs 6,161 people in three business segments: Lisi Aerospace, Lisi Automotive, and Lisi Cosmetics. Lisi reported a 19.8% increase in revenue to EUR 739.7 million (US$994.7 million) in 2006, with net income growing 35% to EUR 48 million (US$64.5m). Web: lisi-group.com
The move comes weeks after Anixter bought UK-based fastener distributor Total Supply Solutions Ltd. for $8 million in cash and assumption of debt. Likewise, Anixter acquired Italian fastener distributor MFU Holding SpA in the fourth quarter of 2006, after buying IMS in May 2006 and the UK’s Infast in 2005. Those acquisitions contributed $191.2 million to consolidated revenue during 2006, which reached $4.94 billion. Web: anixter.com ©2007/2012 Fastener Industry News
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