ACQUISITION: Anixter Buys QSM of Illinois & Quality Screw of Mexico
Jason Sandefur
Anixter International Inc. paid $80 million for two fastener operations: Wood Dale, IL-based QSN Industries Inc. and its sister company, Quality Screw de Mexico SA. Combined annualized sales for these businesses are expected to exceed $100 million in 2008.
Founded in 1977, QSN is a distributor and manufacturer of fasteners to the automotive, appliance, lawn and garden, HVAC, telecom and electrical OEMs. QSN operates 13 facilities in Alabama, Arizona, Georgia, Illinois, Michigan, Ohio, South Carolina, Tennessee and Texas. Its sole manufacturing facility is located in Wood Dale. Web: qsn.com
Headquartered in Aguascalientes, Mexico, Quality Screw distributes fasteners through five operational sites in Mexico.
Anixter said the two fastener businesses would complement its current offerings in a number of vertical markets. Anixter said integrating these operations would help push annual sales at its OEM Supply division, which includes Anixter Fasteners and Anixter Pentacon, above $600 million in North America.
“These acquisitions leverage our existing infrastructure and bring an important new critical mass to our North American OEM Supply business by adding locations in Mexico as well as manufacturing capacity,” stated CEO Bob Eck.
QSN’s manufacturing capabilities will provide Anixter with “enhanced flexibility to meet supply chain commitments where quick turnaround times are important to rapidly changing customer requirements,” Eck noted.
During the second quarter of 2008, Anixter reported sales, including fasteners, climbed 7% to $1.62 billion. Operating income grew 5% $121.8 million, while net income gained 4% to $66.9 million.
Anixter distributes fasteners, communication products, electrical and electronic wire & cable through 214 warehouses and operations in 248 cities around the world. Web: anixter.com \ �2008 FastenerNews.com
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