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Electronics Production | September 10, 2008

Nu Horizons acquires C-88

Nu Horizons Electronics has acquired C-88, a franchised distributor of electronic components based in Hoersholm, Denmark.
Pursuant to the terms of the purchase agreement, Nu Horizons paid $3.5 million in cash. The purchase agreement also provides for potential additional payments to the seller from a minimum $500,000 up to a maximum $3.5 million. The payment of any amounts in excess of the $500,000 minimum is contingent upon the attainment of certain earnings milestones by C-88 AS during the three-year period ending August 31, 2011.

C-88 AS had approximately $18 million in sales for the twelve month period ended April 30, 2008, and is expected to be accretive to Nu Horizons' current fiscal year net income.

C-88 AS is focused on fast growing markets and uses a highly technical design-in sales approach. Their product offering is focused on both analog and digital offerings including: processors, communication, memory and programmable logic, power, mixed signal, display and RF. Their customers include those in the communications, industrial and consumer industries. CS-88 AS has sales coverage in Denmark and Sweden, with plans to expand into Norway and Finland in the near term.
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