Access control manufacturer Inner Range and electronic security distributor Central Security Distribution report that the group will be acquired by Anixter Inc.
"We are excited to announce that we have entered into an agreement for CSD and Inner Range to be acquired by Anixter Inc," said Mark Cunnington, CSD managing director. "The agreement is expected to be finalised before the end of June 2018."
"For CSD and Inner Range customers, nothing has changed - it is business as usual. CSD's branch network and support systems will remain unchanged and Inner Range's commitment to research and development will continue."
"You will not be required to open a new trading account as the company CSD will continue to operate, with the only change relating to the ownership of the company. The full management team, including myself, will continue working for CSD."
"After the agreement is finalised we expect to announce some exciting new opportunities for CSD, Inner Range and Anixter customers. We greatly appreciate your ongoing business and I can assure you that this development will have a very positive impact on our product offering and customer service levels."
Anixter is a Fortune 500 global leader in distribution with revenues of more than $US7.9 billion and currently employs more than 9000 staff.