Arrow Electronics Announce Plans to Buy A.E.Petsche

Arrow Electronics Inc., Melville, N.Y., announced an agreement to acquire A.E. Petsche Co., Arlington, Texas, a provider of interconnect products, including specialty wire, cable and harness management solutions, to the aerospace and defense markets. It is expected that the deal will close by the end of 2009.

“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 Kong, president of Arrow Global Components.

With approximately 250 employees, A.E. Petsche provides value-added distribution services to more than 3,500 customers. Total sales in 2008 were approximately $220 million. Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It serves as a supply channel partner for approximately 800 suppliers and 130,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 340 locations in 53 countries and territories. Arrow's sales for 2008 were $16.8 billion. Details