American Electrical Supplier Makes Peru Buy

Anixter International has purchased Peruvian electrical wire and cable distributor Jorvex, it says, for $56.2m and the assumption of $10.5m in debt. The final price to be paid by the Chicago-based distributor of communication and security products, may also be subject to a net asset adjustment. Annual sales for Jorvex were approximately $115m in 2011, and Anixter expects the acquisition to be immediately accretive to earnings in the second half of 2012. Anixter is already active in Peru and several other Latin American markets. Anixter did not use an advisor, according to a spokesman.