Almost four months after being named the buyer of Anixter International's OEM Fasteners division, private equity firm American Industrial Partners announced Tuesday that the acquisition has been completed.
AIP has renamed the business Optimas OE Solutions, LLC and it will remain headquartered in Glenview, IL.
Acquired for $380 million, Optimas has approximately 1,950 employees, serves more than 4,000 customers in 15 countries through a network of 74 distribution and service centers across North America, Europe, and Asia.
"We are extremely excited to partner with AIP, who brings deep operating and industry expertise," said Ian Clarke, CEO of Optimas. "As a standalone company, we look forward to implementing a strategic growth plan focused on serving our blue-chip customer base and enhancing our leadership position."
Anixter was No. 6 on Industrial Distribution's 2014 Big 50 List.