AIP Closes $380M Purchase of Anixter's Fasteners Business
June 03, 2015
American Industrial Partners has completed its acquisition of Anixter's (NYSE: AXE) Fasteners segment for $380 million in cash and named the new company Optimas OE Solutions. With customers in 15 countries, Optimas manufactures and distributes fasteners for customers in the heavy truck, power train, luxury automotive and construction industries, among others. The business reported revenues of $938.5 million and operating profit of $39.1 million last year.