ALTDORF, Switzerland—Datwyler Holding Inc. has sold its Distrelec and Nedis distribution companies, allowing it to better focus on its sealing business.
The sale to German investment firm Aurelius, was disclosed Dec. 23 and is due to be completed in the first quarter of 2020, subject to conditions according to the statement.
Terms of the deal were not disclosed.
The Swiss group said it also is evaluating options for the sale of Reichelt, another electronics distributor company.
Electronic component distributors Distrelec and Nedis generated 2018 sales of around $306 million, with about 850 employees.
The disposal will lead to a loss of around $684 million with no impact on liquidity, according to Datwyler.
The move will increase the group's focus on its "fast-growing, high-margin sealing business," Datwyler said.
In particular, Datwyler aims to advance its position as a development partner for "system-critical" sealing components in the health care and automotive industries.