RS Group buys Distrelec for €365m

RS Group said it had bought Distrelec, a distributor of industrial and maintenance, repair and operations products for €365m (£323m) on a cash-free and debt-free basis.

The company on Thursday said the deal “significantly expands our continental European presence especially in Germany, Switzerland and Sweden” and would be accretive to adjusted earnings per share in first full year.

Reporting by Frank Prenesti for Sharecast.com