Avnet Memec acquires Italian specialist distributor ESCO Italiana
ESCO has been able to develop excellent supplier relationships, to include US Analogue, Mixed-Signal, and microcontroller manufacturer Maxim/Dallas. Maxim/Dallas, whose products are distributed by Avnet Memec in France, Spain and Portugal, is a major contributor to ESCO's revenue stream in Italy, Greece and Turkey and is set to enhance Avnet Memec's future value proposition in the analogue sector. Other significant suppliers include RF (radio frequency) and M2M (machine to machine) specialist Wavecom and Varitronix, Epson, Seiko Instruments, CML, Protech Systems, Hitachi Displays, AKM, Leadtek and Digi International.
Upon closing of the acquisition, Harley Feldberg, president of Avnet Electronics Marketing, said: "In addition to maintaining a solid balance sheet, ESCO Italiana offers a good fit for Avnet Memec, with a similar business approach and performance-based culture. Along with a complementary line card, we also found ESCO to be well regarded by customers and suppliers. I feel that the addition of ESCO will benefit our already strong position in Southern Europe.
"Aurelio Busani, president of ESCO Italiana, commented on his decision to join forces with Avnet Memec: "Over the last 34 years, we have been very successful in growing our Italian business by applying specialist resources to our demand creation and design-in strategy."
Domenico Camorani, general manager of ESCO, added: "Avnet Memec has made a splendid start into the business over the last 12 months, is already highly recognized by many customers, and certainly has received much attention from semiconductor suppliers. They operate on a proven ERP system and the logistics backbone of a global company. Avnet Memec and parent company Avnet, Inc. are an excellent home for our talent and expertise."
Busani and Camorani will stay on board for the next six months and report directly to Steve Haynes, president of Avnet Memec EMEA. Both will work closely with Massimo Loche, regional vice president of Avnet Memec, to orchestrate the transition. Over the next few months, the management team of Avnet Memec and ESCO will work together to define and implement a smooth and successful integration plan that will ensure additional added value for the teams, our customers and suppliers.
