Electrocomponents completed the acquisition of Synovos and Needlers from Geocapital Partners for £150m.

Electrocomponents, a British-based distributor of industrial and electronics products, completed the acquisition of Synovos, a provider of integrated supply solutions in the Americas, and Needlers, a UK provider of safety products and PPE, from Geocapital Partners, a venture capital firm, for £150m ($201m). "Both Synovos and Needlers are very good businesses, aligned to our strategy of selectively adding high-quality, value-creating bolt-on acquisitions to the Group. Synovos enables us to expand our value-added solutions offer in the Americas, significantly enhancing our proposition for corporate customers. It is an excellent fit with our existing IESA business and will increase our ability to support clients in managing their procurement, inventory and maintenance needs globally. Needlers is a very high-quality business that we have been following for a long time and significantly enhances our safety, hygiene and PPE offering which is a critical capability in today's world," Lindsley Ruth, Electrocomponents CEO.