HD Supply Holding To Sell HD Supply Power Solutions Unit To Anixter

(RTTNews) - HD Supply Holding Inc. (HDS), Wednesday said it agreed to sell its HD Supply Power Solutions business unit to Anixter Inc., for $825 million in cash.

The transaction is expected to close in HD Supply's third quarter of fiscal 2015 subject to customary regulatory approvals.

"After a detailed evaluation, we determined that a sale of our Power Solutions business to Anixter is in the best interests of our Power Solutions associates and HD Supply shareholders," said Joe DeAngelo, HD Supply Chairman and CEO.

After reflecting Power Solutions as a discontinued operation, the company anticipates sales in the second quarter to be in the range of $1,966 million to $2,021 million.