Arrow Electronics, Inc., Melville, N.Y., agreed to acquire A.E. Petsche Co., Arlington, Texas, a distributor of interconnect products, including specialty wire, cable and harness management solutions, to the aerospace and defense markets. Terms of the deal, expected to close by the end of 2009, were not disclosed.
“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,” said Peter Kong, president of Arrow Global Components. “This strategic transaction will add to the breadth of Arrow's customer base and increase our staff of highly experienced sales professionals, while allowing for a variety of cross-selling opportunities with our existing business as well as other emerging markets.”
“We believe A.E. Petsche will further benefit from Arrow's considerable global scale, vast customer base and strong financial resources,” said Glenn Davidson, chief executive officer of A.E. Petsche. “As a result of this transaction, both Arrow and A.E. Petsche will strengthen their product portfolio in the aerospace and defense markets.”
A.E. Petsche distributes products in the United States, Canada, Mexico, the United Kingdom, France and Belgium through 20 locations with 250 employees. The company's 2008 U.S. sales of $185 million placed it at No. 40 on Electrical Wholesaling's Top 200 list of the largest electrical distributors.
Arrow Electronics is the largest distributor of electronic components in the world. It has 800 suppliers and serves 130,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 340 locations in 53 countries and territories. Ranked 151 in the Fortune 500, its 2008 sales were $16.8 billion.