Phoenix-based Avnet, Inc. has acquired the remaining interest in MSC Investoren GmbH (MSC Group), a European distributor of electronic components and embedded computing and display solutions. This completes a two-part acquisition announced earlier this year. Avnet acquired the majority interest in MSC Group on October 1.
Founded in 1979, MSC Group serves customers in the automotive, industrial automation, telecom, information systems, and medical device markets.
"The completion of the MSC acquisition allows us to begin realizing the full benefits of one of the best recognized distributors in the European market,” Patrick Zammit, president of Avnet Electronics Marketing EMEA said in announcing the deal. “Over the last few weeks we have been able to lay out the future strategy of Avnet Electronics Marketing EMEA including MSC and have received positive feedback from customers and manufacturing partners. Our plans to create a focused ‘embedded and display solutions’ business unit in EMEA will allow us to serve the technology value chain deeper and wider and accelerate profitable growth in the region.”
Avnet first announced the two-part acquisition plan in July. Harley Feldberg, president of Electronics Marketing Global, then stated: “The addition of the MSC Group is a strong fit with our strategy to invest in margin-enhancing acquisitions that complement our existing design and supply chain services, while also expanding growth opportunities in the region.”
At the time, the acquisition was expected to support Avnet’s long-term return on capital goal of 12.5%