Electronics Production |
Arrow acquires interconnect distributor
Arrow Electronics, Inc. has agreed to acquire A.E. Petsche Company, a provider of interconnect products, including specialty wire, cable and harness management solutions, to the aerospace and defense markets.
"With this acquisition, A.E. Petsche will expand Arrow’s product offering in specialty wire and cable and will greatly increase our presence in the aerospace and defense markets,” said Peter T. Kong, president of Arrow Global Components.
A.E. Petsche is headquartered in Arlington, Texas, and distributes products in the United States, Canada, Mexico, the United Kingdom, France, and Belgium through 20 locations. With approximately 250 employees, A.E. Petsche provides value-added distribution services to over 3,500 customers. Total sales in 2008 were approximately $220 million and the acquisition is expected to be accretive to earnings by $.10 to $.12 in 2010. It is expected that the deal will close by the end of 2009.
