Anixter Acquires Walters Hexagon Group Ltd.

Oct. 10, 2003
Anixter International Inc., Glenview, Ill., has acquired all of the outstanding shares of Walters Hexagon Group Limited.

Anixter International Inc., Glenview, Ill., has acquired all of the outstanding shares of Walters Hexagon Group Limited.

Headquartered in Worcester, England, Walters Hexagon is a distributor of fasteners and other small components to OEMs and a provider of inventory management services. For the past five years, the company has been owned by Bridgepoint Capital Ltd. and company management. Walters Hexagon had sales of approximately $60 million in 2002.

Walters Hexagon employs approximately 270 employees and operates nine distribution and sales facilities in the United Kingdom and one in France.

Commenting on the acquisition, Robert W. Grubbs, Anixter’s president and CEO, said, “The acquisition of Walters Hexagon is another important strategic step in building our global capabilities to supply fasteners, wire and cable and other small components to OEMs. “With many of the key integration steps associated with our September 2002 acquisition of Pentacon Inc. successfully completed, the timing was appropriate to take this next step. Walters Hexagon and our existing Anixter Pentacon OEM supply business combine to give us an annual sales run rate in this marketplace of over $350 million per year.”