M&A Deal Summary

Avnet Acquires Canvas Systems

On January 31, 2012, Avnet acquired distribution company Canvas Systems from Platinum Equity

Acquisition Highlights
  • This is Avnet’s 22nd transaction in the Distribution sector.
  • This is Avnet’s 13th transaction in the United States.
  • This is Avnet’s 2nd transaction in Georgia.

M&A Deal Summary
Date 2012-01-31
Target Canvas Systems
Sector Distribution
Buyer(s) Avnet
Sellers(s) Platinum Equity
Deal Type Add-on Acquisition

Target

Canvas Systems

Norcross, Georgia, United States
Canvas Systems is an independent supplier of IT hardware and services with operating units in the United States, the United Kingdom and the Netherlands.

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Buyer(S) 1

Buyer

Avnet

Phoenix, Arizona, United States
Category Company
Founded 1921
Sector Distribution
Employees15,800
Revenue 26.5B USD (2023)
DESCRIPTION
Avnet's corporate headquarters in Phoenix, Arizona.
Avnet's corporate headquarters in Phoenix, Arizona.

Avnet is a distributor of electronic components, computer products, and embedded technology serving customers globally. Avnet accelerates its partners' success by connecting the technology suppliers with a broad base of customers by providing cost-effective, value-added services and solutions. Avnet was founded in 1921 and is based in Phoenix, Arizona.

DEAL STATS #
Overall 53 of 78
Sector (Distribution) 22 of 32
Type (Add-on Acquisition) 45 of 68
State (Georgia) 2 of 2
Country (United States) 13 of 26
Year (2012) 2 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-03 ROUND2

Austin, Texas, United States

ROUND2, Inc. is a provider of integrated and customizable recycling services, offering vertically integrated solutions through electronics testing and repair, product disassembly and commodity recycling.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-26 Ascendant Technology

Austin,, Texas, United States

Ascendant Technology, LLC is an international IT consulting firm. Ascendant Technology specializes in developing end-to-end IBM solutions that help organizations optimize their information technology investment and achieve business results.

Buy -

Seller(S) 1

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 19 of 78
Sector (Distribution) 1 of 4
Type (Add-on Acquisition) 11 of 39
State (Georgia) 2 of 5
Country (United States) 16 of 65
Year (2012) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-03 Keen Transport

Carlisle, Pennsylvania, United States

Keen Transport is a national provider of heavy-haul logistics and transportation services for the construction, mining and agriculture equipment markets. The company also provides value-added logistics, light assembly, painting, installation of aftermarket accessories, storage, and managed logistics services at facilities near U.S. ports and co-located with customer production facilities.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-02 3B Fiberglass

Battice, Belgium

3B manufactures and sells composite materials that are used to strengthen and lighten components and parts in the automotive, wind energy, electronics and consumer goods industries, among others.

Sell €275M
Mergr

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