Rexel sells 7 agencies in Southeast Asia
Rexel, on December 20, 2017, sold its operations in Southeast Asia to American Industrial Acquisition Corporation Group (AIAC), a private equity firm specializing in industrial investment.
The transaction covers the following seven Southeast Asian countries where Rexel was present: Thailand, Indonesia, Singapore, Vietnam, the Philippines, Macau and Malaysia. Rexel had sales of EUR 136 million in these countries in 2016. The sale will be completed by the end of 2018.
Founded in 1996, AIAC has more than 50 production and distribution locations, with over 15,000 employees in 19 countries across North America, Europe and Asia, with over USD 2 bn (EUR 1.7 bn) in annual revenues.