Anixter Completes Pentacon Deal
Anixter Completes Pentacon Deal
Jason Sandefur
Pentacon Inc. emerged from Chapter 11 bankruptcy following the announcement that Anixter International Inc. completed its purchase of the company. Pentacon will now operate as Anixter Pentacon Inc.
Anixter reportedly paid $108.2 million for the company and assumed trade liabilities totaling $16.5 million. As part of the deal, Chicago-based Anixter agreed to retain existing Pentacon employees.
Anixter CEO Bob Grubbs anticipated Pentacon would contribute immediately to Anixter�s bottom line in the fourth quarter, with estimated Q4 sales of $48 million to $52 million.
Anixter is a global distributor of wiring systems and networking products. E-mail: info@anixter.com Web: anixter.com
Chatsworth, CA-based Pentacon distributes fasteners and small assembly components through 30 facilities around the world. E-mail: information@pentacon-inc.com Web: pentacon.com �2002 FastenerNews.com
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