Anixter International Inc. Acquires Clark Security Products, Inc. and the Assets and Operations of General Lock, LLC for $36.6M

Anixter International Inc. AXE today announced that it has acquired all the outstanding shares of Clark Security Products, Inc. and the assets and operations of General Lock, LLC. Anixter will pay consideration of approximately $36.6 million in cash for all the assets and operations of Clark. The final purchase price will be determined when the net asset balance of Clark is confirmed. Annual sales for Clark are expected to be approximately $115 million for 2010. Anixter expects the acquisition to be accretive to earnings in the first full year of ownership.