TODAY'S PAPER
65° Good Morning
65° Good Morning
Business

Arrow completes deal to acquire Texas firm

Melville-based Arrow Electronics Inc. has completed its deal to acquire A.E. Petsche Co., a provider of wire, cable and other interconnection products.

A.E. Petsche, based in Arlington, Texas, has 250 employees and had $220 million in sales for 2008. It distributes in the United States, Canada, Mexico, the United Kingdom, France and Belgium through 20 locations.

The deal had been expected to close by the end of 2009 and proceeded according to schedule. Terms were not disclosed.

Peter Kong, president of Arrow Global Components, said yesterday, "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."

A.E. Petsche's sales in 2010 are expected to exceed $200 million and add to Arrow's earnings by 10 cents to 12 cents per share.

Arrow Electronics is a global provider of products and services to industrial and commercial users of electronic components and enterprise computing products.

The company serves as a supply channel partner for about 700 suppliers and about 140,000 original equipment manufacturers, contract manufacturers and commercial customers through a network of more than 300 locations in 50 countries and territories.

Comments

We're revamping our Comments section. Learn more and share your input.

More news