Anixter International Inc. announced this week that it has acquired all the outstanding shares of Jorvex, S.A. as of June 28, 2012.
Lima, Peru-based Jorvex is a distributor of electrical wire and cable products. The company distributes to commercial, industrial and government entities across Peru and has distribution centers in Lima, Arequipa and Chiclayo.
In addition to electrical wire and cable products, Jorvex also supplies PVC and HDPE pipe and conveyor belts and provides other technical support services.
Jorvex’s 2011 annual sales came in at approximately $115 million. Anixter anticipates the acquisition of Jorex to be immediately accretive to earnings in the second half of this year.
“We are pleased to have Jorvex join Anixter and look forward to gaining their insight and partnering with the excellent team that has successfully built and led this business for over 40 years,” said Bob Eck, president and CEO of Anixter.
Eck went on to say that the acquisition of Jorex will position Anixter as a significant player in the Andean market and will help the company leverage its geographical presence and logistics capabilities.
Anixter was founded in 1957 and is headquartered near Chicago. The company has locations in more than 260 cities in more than 50 countries.Tagged with tED