Avnet, Inc., announced that it has entered into an agreement to acquire the Berlin, Germany-based passive components distributor Betronik GmbH. The acquisition is subject to the final approval by the German anti-trust authority (Bundeskartellamt).
Following anti-trust approval, Betronik and its French subsidiary DEL S.A. will be combined with the Avnet Time organization in Germany and France, respectively. The newly formed business will operate within Avnet Electronics Marketing EMEA under the Avnet Time brand. Betronik reported calendar year 2006 revenues of approximately $40 Million. As a result of the merger, Ingeborg and Horst Mergener, managing directors and founders of Betronik, will lead the sales organizations in Germany reporting directly to Michael Danylow, president of Avnet Time.
With roots dating back to the 1970s, Betronik GmbH was founded in 1986 in Berlin by Horst Mergener and his wife, Ingeborg. Over the last 20 years, the company evolved to a leading independent distribution organization in the German market for passive components. Betronik employs about 80 people in its logistics center in Berlin, and seven sales offices across Germany and one in France. Most importantly, Betronik maintains an excellent reputation with customers of all sizes and structures.
Patrick Zammit, President of Avnet Electronics Marketing EMEA, said: ‘The acquisition of Betronik, like the Flint acquisition three months ago, is another great example of Avnet’s commitment to invest in the European IP&E market. Both Betronik’s and Avnet Time’s customers will gain access to one of the industry’s best passive components portfolios as well as a broader spectrum of value-added services. We have very exciting plans for Avnet Time across Europe and are confident that our suppliers and customers will embrace the opportunities that evolve from this expansion.
Betronik’s Managing Director and Founder Horst Mergener commented: ‘Over the last 20 years, we have built an excellent specialist team on passive components and were able to gain the respect of many customers for our high service quality. I believe that combining forces with Avnet Time now provides the best options for customers, suppliers and employees. In leading the new German sales organisation I want to ensure that Betronik’s entrepreneurial spirit continues to prevail, as part of Avnet Time. I am looking forward to be an integral part of Avnet Time’s future strategy.’
Michael Danylow said: ‘Germany is by far the biggest marketplace in Europe for IP&E products. Together with Betronik, we can grow to become a leading force in this critical region.’
The newly expanded Avnet Time will work to ensure the strengths that have made Betronik a preferred choice in the passive components market will also drive the new organization and that customers, suppliers and employees will experience a smooth transition with new and exciting opportunities.
Source: Avnet
