Anixter acquires security distributor
Buying Clark Security Products puts the distributor into the access-control business.
Anixter has acquired Clark Security Products and General Lock. San Diego-based Clark distributes security products and locksmith supplies to commercial, industrial and government entities. It has major distribution centers in San Diego; Dallas, TX; Sacramento, CA; Denver, CO; Lexington, KY; Silver Spring, MD; Phoenix, AZ and Kent, WA. Clark's product offerings include locking hardware, access-control devices, closed circuit television and technical support services.
Anixter is paying $36.6 million for all of Clark's assets and operations. The final purchase price will be determined when the net asset balance from Clark is confirmed. The company said annual sales for Clark are expected to be $115 million in 2010.
Bob Eck, president and chief executive officer of Anixter, said, "Clark immediately positions Anixter as a significant player in the access control market. Combined with Anixter's existing security business, we will continue to lead the security market as it increasingly migrates toward IP-based systems."