RS Group Plc, a UK industrial and electronics products distributor, has agreed to buy Distrelec B.V., a Dutch electronic parts supplier, for 365 million euros ($400.3 million).
The combination of Distrelec and RS in the key markets is expected to leverage existing operations to drive value-accretive growth.
RS Group will finance the acquisition, which expands its presence in continental Europe, from its existing resources and the addition of a new three-year acquisition term loan facility of $164.5 million.
Subject to customary closing conditions including German, Austrian and Italian regulatory clearance, the companies expect to complete the transaction within two to three months.