AIP acquires Anixter's OEM Supply Fasteners
American Industrial Partners completed the acquisition of Anixter International Inc.'s OEM Supply Fasteners division.
The business has been renamed Optimas OE Solutions, LLC and will remain headquartered in Glenview, Ill. The investment was made out of American Industrial Partners Capital Fund V, LP a $717.5 million fund that closed in December 2011.
Optimas, with approximately 1,950 employees, is a global distributor and manufacturer of highly-engineered fasteners and C-Class components for the commercial vehicle, luxury automotive, agricultural equipment, power generation equipment, construction, and general industrial markets. Optimas serves over 4,000 customers in 15 countries through a network of 74 distribution and service centers located across North America, Europe, and Asia.
"We are extremely excited to partner with AIP, who brings deep operating and industry expertise," said Ian Clarke, CEO of Optimas. "As a standalone company, we look forward to implementing a strategic growth plan focused on serving our blue-chip customer base and enhancing our leadership position."
AIP is a middle-market private equity firm focused on acquiring and improving North American-headquartered industrial businesses
"With a global market leadership position driven by deep, long-standing relationships, combined with a highly-customized product portfolio, Optimas is well positioned for growth worldwide," added Eric Baroyan of AIP. "We look forward to supporting management to execute identified growth initiatives and to drive operational efficiencies at the company."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
