Anixter To Buy HD Supply’s Power Unit For $825M
In a major news regarding two of Industrial Distribution’s largest Big 50 List companies, HD Supply and Anixter International announced Wednesday an agreement for Anixter to acquire HD Supply’s Power Solutions segment for a price of $825 million.
Expected to close near the end of both company’s fiscal third quarter, the transaction is the largest in Anixter history.
HD Supply was No. 4 on ID’s 2014 Big 50 List, and Anixter was No. 6.
According to Anixter, Atlanta-based Power Solutions distributes more than 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. Power Solutions operates from approximately 130 branches in 30 U.S. states and four Canadian provinces. In 2014, Power Solutions reported fiscal revenue of $1.9 billion and adjusted EBITDA of $79 million.