Anixter to buy World Class Wire & Cable
Industrial Distribution staff -- Industrial Distribution, 9/10/2008 1:24:00 PM
Anixter International Inc. agreed to acquire the World Class Wire & Cable Inc. for roughly $62 million in cash.
Waukesha, Wis.-based World Class, which posts annual sales of about $60 million, distributes electrical wire and cable.
The Glenview, Ill.-based communication products, wire, cable and fasteners distributor said it expects to close the deal “on or about October 1.”
“World Class has an excellent team that has won many awards for its entrepreneurial drive and track record of growth. We believe the World Class team will be an excellent fit with our existing presence in the wire and cable market in the Midwest. This acquisition positions us well to drive even stronger future organic growth,” said Anizter president and CEO Bob Eck.
Anixter ranked sixth on INDUSTRIAL DISTRIBUTION's 2008 Top 10 List of Electrical Distributors, with 2007 sales of $5.9 billion.
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