Avnet Time, a business unit of Avnet Electronics Marketing EMEA and Avnet, has acquired the UK-based Interconnect, Passive and Electromechanical (IP&E) distributor, Flint Distribution. Flint will be combined with the Avnet Time organisation. The newly formed business will have annual revenues of 31 Million Euros. Carl Barton, Managing Director and Co-Founder of Flint, will lead the new, larger Avnet Time business in the UK and Ireland. Vince Clark, Avnet Time's UK manager, will head up the sales organisation. Avnet Time and Flint customers will have full access to an expanded line card and thus enjoy one of the best IP&E product portfolios in the industry.
Flint is one of the regions leading independent specialist electronic component distributors in IP&E products. With 55 employees, it serves over 1600 customers across a broad range of industry sectors, including EMS, security, instrumentation, automation and industrial controls. Over the years, Flint has established a strong reputation in the market, for its on-time delivery performance and an outstanding service level, particularly for those customers seeking value-added services such as Flint's unique PARETO vendor-managed inventory system.
According to Flint Managing Director and Co-Founder Carl Barton, "We have a very loyal and high quality team and I am confident that their career opportunities will be enhanced by joining Avnet Time. Too often, our operational excellence and superior customer service get lost in vendor reduction programmes. Therefore, all of the Flint board members believe that the combined strengths of Avnet and Flint provide the best option for customers, suppliers and staff alike. Flint has been my life for over 20 years and my overriding objective was to ensure that my baby went to the best possible home. I am delighted to see Flint at the core of Avnet Time's exciting plans for the UK&Ireland and that I can be a vital part of this new strategy".
Patrick Zammit, President of Avnet Electronics Marketing EMEA stated: "We have very exciting growth plans for Avnet Time across Europe and the acquisition of Flint is a great example of our commitment to grow IP&E in the region. As part of the acquisition, both customer sets will gain access to industry leading franchises that have not been part of our respective portfolios. We are confident that our suppliers and customers will embrace the opportunities that this new organisation can offer." Klaus Emme, President of Avnet Time, said: "This acquisition is excellent for all parties, not just Flint and Avnet, but also for customers and suppliers. Flint has an unequalled reputation for service excellence and process&operational innovation. Therefore, our intent is to fully merge best people and best practices into Avnet Time's organisation."
Emme continued: "Coalville will become the centre of UK and Ireland operations for Avnet Time. Furthermore, Avnet Time's Stevenage location will remain a critical sales branch with refined geographical responsibilities, to continuously expand our service offerings to customers." Carl Barton and the new, bigger Avnet Time will work to make sure that Flint's differentiating strengths in the market place, in particular operational excellence and innovation, will drive the new organisation and that, customers, suppliers and employees will experience a smooth transition with new, exciting opportunities. Vince Clark, who will lead the sales organisation of the new company, commented: "I am extremely excited by the opportunities that this new larger business will offer to our customers. By leaving both the Coalville operation and the Stevenage sales office intact, customers will enjoy the stronger market presence of Avnet Time and Flint combined, as well as the benefit of Flint's unrivalled customer service."
