Arrow Electronics to Buy A.E. Petsche

Arrow Electronics, announced an agreement to acquire A.E. Petsche Company, a provider of interconnect products, including specialty wire, cable and harness management solutions, to the aerospace and defense markets.

"With this acquisition, A.E. Petsche will expand Arrow's product offering in specialty wire and cable and will greatly increase our presence in the aerospace and defense markets," said Peter T. Kong, president of Arrow Global Components. "This strategic transaction will add to the breadth of Arrow's customer base and increase our staff of highly experienced sales professionals, while allowing for a variety of cross-selling opportunities with our existing business as well as other emerging markets."

"We believe A.E. Petsche will further benefit from Arrow's considerable global scale, vast customer base, and strong financial resources," said Glenn Davidson, chief executive officer of A.E. Petsche. "As a result of this transaction, both Arrow and A.E. Petsche will strengthen their product portfolio in the aerospace and defense markets."

A.E. Petsche is headquartered in Arlington, Texas, and distributes products in the United States, Canada, Mexico, the United Kingdom, France, and Belgium through 20 locations. With approximately 250 employees, A.E. Petsche provides value-added distribution services to over 3,500 customers. Total sales in 2008 were approximately $220 million and the acquisition is expected to be accretive to earnings by $.10 to $.12 in 2010. It is expected that the deal will close by the end of 2009.

Arrow Electronics is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions.

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