Builds up German portfolio
Distributor Avnet has made yet another acquisition – hot on the heels of its Magirus purchase – buying the relatively fresh-faced Altron GmbH & Co. KG, headquartered in Lehrte, Germany.
Altron is a component distie that deals in interconnect, passive, and electromechanical components, looking after more than 40 suppliers. It has been in the industry for just three years.
Some of the specialist suppliers Altron looks after includes Vishay, Kemet, Wima, Yageo and FCI, serving roughly 2,500 customers across a range of sectors. It has 65 employees. According to Avnet, the buy should go along with Avnet’s 12.5 percent return on capital goal.
Avnet Abacus’ president, Graham McBeth, said in a statement that his company should be able to bolster its German portfolio with the acquisition. It looks like Altron’s products, services, and staff will be folded into Avnet, and McBeth said that this should further fuel the company’s growth.
Patrick Zammit, president of Avnet Electronics Marketing EMEA, said: “We will gain more critical mass in Germany and create cross-selling opportunities to the combined customer base”.