Electronics distributor Avnet, Inc. announced its acquisition of Altron GmbH & Co. KG. Altron is a leading interconnect, passive and electromechanical components (IP&E) distributor in Germany, representing more than 40 suppliers and yielding approximately $30 million in revenue for 2011.
The deal expands Avnet’s passives business in Germany and affirms the company’s commitment to building its European IP&E business.
“The acquisition of Altron is another example of Avnet’s commitment to invest in the European IP&E market. By acquiring Altron, together with our IP&E business unit Avnet Abacus, we will gain more critical mass in Germany and create cross-selling opportunities to the combined customer base,” Patrick Zammit, president of Avnet Electronics Marketing EMEA, said in a statement announcing the deal July 3rd.
Avnet Abacus is Avnet’s pan-European demand creation distributor specializing in interconnect, passive, electromechanical, power supply and battery products
Founded in 1931, Altron is a specialist distributor of IP&E products from suppliers including Vishay, Kemet, Wima, Yageo and FCI. With 65 employees, the distributor serves more than 2,500 customers across a broad range of industry sectors. The acquisition is expected to be immediately accretive to earnings and supports Avnet’s return on capital goal of 12.5%, the company said.
“I am delighted that after only three years we have become a major force in the European IP&E market and we are now able to strengthen our portfolio in Germany with the acquisition of Altron,” Graham McBeth, president of Avnet Abacus, said. “Their people, products, services and strong customer relationships will complement the existing position of Avnet in the IP&E market and further fuel our growth.”