Optimas Solutions plans to sell its “International” division to a European private equity firm — leaving the company’s “Americas” segment as a standalone, independent company.
The fastener and Class-C component distributor announced Tuesday that it has reached an agreement for the sale of the international business to Exponent. That business, which comprises operations in the Europe, Middle East and Africa and Asia-Pacific regions, will be officially named Optimas International.
The Americas business, which will retain the Optimas Solutions name, will include existing operations across North and South America.
The transaction is expected to close by the middle of the year, subject to regulatory approval and other closing conditions. Terms of the sale to Exponent were not disclosed. The businesses will continue to be headquartered in Gloucester, England, and Wood Dale, Illinois, respectively.
Optimas Solutions officials said that the move culminates a “multi-year transformation” that saw the company split into its “Americas” and “International” segments. The newly separated Optimas Solutions, the company said, would provide a faster and more resilient supply chain and a stronger value proposition in the region.
“We will remain a globally connected, regionally focused company that is well positioned to adapt to our changing customer needs,” said Daniel Harms, the Americas CEO who will continue as CEO of Optimas Solutions. “This event facilitates faster decision making, greater service flexibility and more effective responses to local market and customer needs.”
The company also said that the move would strengthen its partnerships with suppliers and position it for “aggressive growth plans that include organic and inorganic components.”
Exponent officials, meanwhile, said they see a “compelling opportunity” in Optimas’ EMEA and Asia-Pacific operations. The firm named Axel Gränitz as chair of the new company’s board and said that it would work with Optimas International management, including current CEO Mike Tuffy.
“The business is well-positioned for accelerated growth under our ownership, underpinned by its strong customer supplier relationships, a differentiated value proposition and disciplined operational execution,” Exponent Partner Tim Easingwood said in a statement.
Optimas Solutions ranked at no. 25 on ID’s latest Big 50.
