Anixter to Sell Fasteners Division
By MDM , 2015-01-12 11:17:44
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Anixter International, Glenview, IL, is selling its fasteners division, according to the Financial Times. The distributor attempted to garner interest in a sale of the full company early last year, but potential buyers were resistant to the price expectations.
The fasteners division is expected to sell for more than $500 million, according to FT. Final bids are due later this month. The auction is being handled by Goldman Sachs.
Anixter had sales of $6.2 billion in 2013. The fasteners division– reported as OEM supply– accounted for about 15 percent of total sales.
