Anixter
{{Short description|American Company}}
{{multiple issues|
{{primary sources|date=April 2013}}
{{update|article|date=October 2020}}
}}
{{Infobox company
| name = Anixter International Inc.
| logo = Anixter Logo.svg
| logo_size = 250
| type = Subsidiary
| industry = Distribution (business)
| foundation = {{Start date and age|1957}}
| location = Glenview, Illinois, U.S.
| key_people = William Galvin (president & CEO)
| products = Communication products and electrical and electronic wire and cable
| revenue = {{increase}}US$6.147 billion (FY 2011){{cite web|url=http://pdf.secdatabase.com/1820/0001193125-12-081094.pdf |title=Anixter, Form 10-K, Annual Report, Filing Date Feb 27, 2012 |publisher=secdatabase.com |access-date =Jan 9, 2013}}
| operating_income = {{increase}}US$362.8 million (FY 2011)
| net_income = {{decrease}}US$188.2 million(FY 2011)
| assets = {{increase}}US$ 3.034 billion (FY 2011)
| equity = {{decrease}}US$1.001 billion (FY 2011)
| num_employees = 6,008{{cite web|url=http://fortune.com/fortune500/anixter-international/|title=Anixter International|website=Fortune|access-date=2018-12-16}}
| num_employees_year = 2022
| parent = WESCO International
| website = {{url|anixter.com}}
}}
Anixter International Inc. is a company based in Glenview, Illinois, United States and founded in 1957. The company supplies goods and services for communications, security, networking, audio-visual, and industrial control applications.{{cite web|url=http://www.hoovers.com/company-information/cs/company-profile.html|title=Anixter International Inc. Company Profile - D&B Hoovers|website=www.hoovers.com}}{{cite web|url=http://www.answers.com/topic/anixter-international-inc-1|title=Answers - The Most Trusted Place for Answering Life's Questions|website=Answers.com}}
The company operates with three major divisions: Network & Security Solutions, Electrical and Electronic Solutions, and Utility Power Solutions. Aerospace Hardware, once considered the fourth division, was sold by Anixter in 2011 to Greenbriar Equity, which formed Align Aerospace.{{cite press release |url=https://www.businesswire.com/news/home/20110829005659/en/Greenbriar-Equity-Group-Announces-Align-Aerospace |title=Greenbriar Equity Group Announces Align Aerospace |date=August 29, 2011 |agency=Business Wire |access-date=June 2, 2018}}{{cite web|url=http://pdf.secdatabase.com/1869/0001193125-11-280410.pdf |title=Anixter, Form 8-K, Current Report, Filing Date Oct 25, 2011 |publisher=secdatabase.com |access-date =Jan 9, 2013}}
In 2002 Anixter was named as a Forbes "Platinum 400" company.{{cite web|url=http://www.hoovers.com/company-information/company-search.html|title=Company Search - Company Information - Hoovers Company Profiles - D&B Hoovers - Companies & Details - Hoovers.com|website=www.hoovers.com}}
On January 13, 2020, Anixter agreed to be acquired by WESCO International for $4.5 billion in cash and WESCO stock.{{cite news |last1=Podmolik |first1=Mary Ellen |title=Anixter accepts Wesco's $4.5B buyout offer, ending bidding war for Glenview company |url=https://www.chicagotribune.com/business/ct-biz-anixter-wesco-merger-20200113-wnn2jjdam5file5ahk6nfesupm-story.html |access-date=13 January 2020 |work=Chicago Tribune |date=13 January 2020}} Anixter's shares ceased trading as of June 22, 2020.{{Cite press release|title=WESCO International Announces Completion of Merger with Anixter International|url=https://www.prnewswire.com/news-releases/wesco-international-announces-completion-of-merger-with-anixter-international-301081029.html|access-date=2021-01-25|website=www.prnewswire.com|language=en}}
History
Anixter was started in 1956 by brothers Alan and Bill Anixter. Known originally as Anixter Brothers, the two opened Anixter as a wholesale distribution company that resold cable. The two brothers received a $20,000 loan from their mother to get the business started, and within 10 years grew revenue to $10 million. In 1969, Anixter moved its headquarters to Skokie. In an interview with the Chicago Tribune, Alan Anixter said he carried a list of acquisitions in his pocket, and by the end of the 1960s, Anixter acquired 19 companies. Anixter went public on the American Stock Exchange in 1967 and expanded to the U.K. in 1972. In 1975, Anixter gained a listing on the New York Stock Exchange, and by the end of the 1970s it had $268 million in sales and 38 warehouses in the U.S., nine in Canada, three in the U.K. and one in the Netherlands.
With the breakup of AT&T in early 1984, Anixter went about hiring executives from phone companies and suppliers and invested heavily in its telecommunications business.{{cite web|url=https://www.chicagotribune.com/news/ct-xpm-1985-07-22-8502170743-story.html|title=ANIXTER ANTICIPATES INVENTORY OF SUCCESS|first=Matt|last=O`Connor|work=Chicago Tribune|date=22 July 1985 }} Until this time, regional telephone companies had to buy their equipment directly from AT&T's Western Electric Company; however, this ruling allowed a business like Anixter's to sell direct to regional telephone companies.[http://www.twst.com/yagoo/eckrobertj1.htm]{{dead link|date=April 2019}} By the mid 1980s, telecommunications sales made up 60 to 70 percent of Anixter's business. In 1986, the holding company Itel bought Anixter, which had moved into the data communications business.{{Cite web
| url = https://www.latimes.com/archives/la-xpm-1986-11-21-fi-14789-story.html
| title = The acquisition of Anixter by Itel was approved.
| author=
| date = 21 November 1986
| website = Los Angeles Times
| publisher = California Times
| access-date = 13 December 2024
}} Itel was led by Samuel Zell, who had become chairman in 1985.
In the late 1980s, Anixter created a program called Levels to compare one brand of cable to the other.{{cite web|url=http://www.cablinginstall.com/articles/print/volume-5/issue-7/products-services/industry-spotlight/anixter-creates-levels-97-program.html|title=Anixter creates Levels 97 program|website=www.cablinginstall.com}} By the 1990s, the Levels program became industry standard, and in 2003, Anixter sold the Levels program to Underwriters Laboratories.{{cite web|url=https://www.chicagobusiness.com/article/20030305/NEWS08/20008116/anixter-underwriters-lab-in-deal|title=Anixter, Underwriters Lab in deal|date=4 March 2003|website=Crain's Chicago Business}}{{cite web|url=https://industries.ul.com/hazardous-locations/atex-iecex-global-market-access|title=Hazardous Locations Global Market Access - Industries - UL|website=Industries}}
In 1989, Anixter crossed the $1 billion mark in sales.{{cite web|url=https://www.chicagotribune.com/news/ct-xpm-1989-01-03-8902220297-story.html|title=ANIXTER BROS. SALES HIT $1 BILLION|first=Chicago|last=Tribune|website=chicagotribune.com|date=3 January 1989 }} By the 1990s, Itel made Anixter its core operation, and in 1995, Itel changed its name to Anixter. In the 1990s, Anixter continued to expand into different markets. It entered the Mexico market in 1991, Australia in 1992, and Eastern Europe and Asia Pacific in 1993. Anixter entered the South American market in 1995. In the later 1990s and 2000s, Anixter purchased Pacer Electronics, Pentacon, Walters Hexagon, DDI, Infast Group, MFU, Eurofast, Total Supply Solutions, Quality Screw & Nut and Quality Screw de Mexico, World Class Wire & Cable, Sofrasar, CamilleGergen, CLARK Security Products and Jorvex.
References
{{Reflist}}
External links
- [http://www.secdatabase.com/CIK/52795/Company-Name/ANIXTER-INTERNATIONAL-INC Anixter International SEC Filings]
{{Illinois Corporations}}
Category:Companies formerly listed on the New York Stock Exchange
Category:Business services companies established in 1957
Category:Companies based in Glenview, Illinois
Category:Fastening tool manufacturers
Category:Distribution companies of the United States
Category:1957 establishments in Illinois