ANICOM ACQUIRES MULTI SECURITY PRODUCTS IN AN ALL-CASH DEAL; STRENGTHENS CANADIAN OPERATIONS
Anicom Inc., a leading North American distributor of Internet infrastructure products and multimedia technology, announces it has purchased Montreal-based Multi Security Products Ltd., a distribution specialist of alarm, sound and security products. The purchase was an all-cash transaction for less than $1 million. “This acquisition presents an opportunity for us to expand our presence in the alarm and securities market in Eastern Canada at a relatively low cost,” says Thomas J. Reiman, Anicom’s new chairman of the board. “We have retained several experienced sales people and acquired two new sales offices in Montreal and Toronto. We have high expectations for these offices as they leverage off the breadth of products available through our Platinum Service Distribution Center in Ontario.” With its purchase of Texcan Cables in September 1998, Anicom became Canada’s second-largest distribution specialist of fiber optics, wire, cable and connectivity products.
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