Rexel has made headlines with its 2006 acquisition of GE Supply (now Gexpro) and Hagemeyer earlier this year. As part of that deal, Rexel sold Hagemeyer’s U.S. operations to Sonepar, another global competitor. According to Dick Waterman, executive vice president and CEO, International Electric Supply Corp., Dallas, the U.S. holding company that oversees Rexel Inc. and Gexpro, the company will continue to make strategic acquisitions, although probably not on the grand scale of the GE Supply and Hagemeyer blockbusters. Here are some highlights of an interview with Waterman.

Q: Rexel recently made big news with the acquisition of Hagemeyer. Had Rexel been eying Hagemeyer for a long time?
We had been looking at it for quite some time prior to any announcements. In our strategic planning, we looked at the possibility for more than a year. I’m not saying there was contact or anything. We had looked at it internally. Rexel’s offer for Hagemeyer is driven by strong industrial rationale. Sonepar’s bid on Oct. 9 created the opportunity to elaborate the proposed offer; an all-cash offer conducted by Rexel with a separate agreement to sell selected assets to Sonepar.

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