Wesco Aircraft Buying Fastener Distributor Interfast

Wesco Aircraft Holdings Inc. agreed to purchase Interfast Inc., the Toronto-based specialty fastener distributor, Interfast, Inc. for C$134 million in cash as it looks to expand its business in North America and Asia.

Interfast provides fasteners, fastening systems and production installation tooling to the aerospace, electronics and general industrial markets. It has customers in the Asia Pacific, Europe, North and South America. Wesco, a provider of supply chain management services to the aerospace industry, expects to close the deal by the fiscal fourth quarter.

The acquisition won't have a material impact on Wesco's current fiscal year results, but it expects it to add to earnings in fiscal 2013. Second quarter profits fell 10% while sales rose 3.5%