IPD Group completed the acquisition of CMI Operations from Excelsior Capita for $101m.

IPD Group, a electrical product distributor in Australia, completed the acquisition of CMI Operations, a electrical cables and plugs distributor and manufacturer, from Excelsior Capita, an Australian private equity firm, for $101m. “We see significant potential in combining the complementary businesses of IPD and CMI. CMI’s strategic alignment with our vision, particularly in leveraging the electrification of the Australian economy, makes this acquisition highly compelling. With CMI’s history of profitable growth and strong market positions in cables and plugs, coupled with the clear cultural alignment between our businesses, we anticipate significant revenue synergies and new growth avenues for IPD. We warmly welcome the CMI team to IPD and are enthusiastic about our extended partnership,” Michael Sainsbury, IPD Executive Director and CEO.