Systemax to spend $25M for Milwaukee unit of German company
Systemax Inc., a Port Washington electronics retailer, reported that it will acquire a Milwaukee equipment group for $25 million in cash.
Systemax Inc., a Port Washington electronics retailer and industrial supply company, has reached an agreement to pay $25 million cash to buy the Plant Equipment Group of Milwaukee.
The Long Island company is acquiring PEG, which sells maintenance, repair and operations products, from the American arm of TAKKT, a German industrial supply corporation. PEG generated $100 million in revenue in 2013.
The deal, announced Dec. 31, is scheduled to close this month.
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