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Anixter acquires Power Solutions segment of HD Supply
Anixter International Inc. has entered into a definitive agreement to acquire the Power Solutions segment of HD Supply for $825 million, subject to customary post-closing working capital and other adjustments.
July 20, 2015 By SP&T Staff
The acquisition, which is the largest in Anixter’s history, is expected to be accretive to earnings in the first full year of operation, exclusive of transaction, one-time integration expenses and incremental amortization of intangible assets. The acquisition is expected to result in future tax benefits from acquired U.S. intangible assets with a net present value estimated to be approximately $70 million.
Headquartered in Atlanta, Power Solutions distributes over 200,000 utility, electrical and industrial MRO products to approximately 13,000 customers including investor-owned utilities, public power utilities, electrical contractors and industrial businesses. Operating from a broad geographic footprint of approximately 130 branches in 30 U.S. states and 4 Canadian provinces, Power Solutions reported fiscal 2014 revenue of $1.9 billion and adjusted EBITDA of $79 million.
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