IDG buys Canadian distributor
Industrial Distribution Group has agreed to acquire Commercial Solutions Inc. for $51.9 million.
Headquartered in Edmonton, Alberta, Commercial Solutions is a Canadian distributor of bearings, power transmission equipment, oilfield, industrial, and safety products. It has 23 services centers and approximately 275 employees located primarily in Western Canada.
"This transaction brings our shareholders significant value and opportunity for our organization to integrate with a North American leader to provide a strong platform for enhanced client service and expanded opportunities for our employees," said Jim Barker, Commercial Solutions president and chief executive officer.
Scott F. Prince, lead director of IDG's board of directors, said "the combination of Commercial's leading position in Western Canada and IDG's strong management team, deep products expertise, and world-class integrated supply chain solutions will create value for customers throughout the Canadian and North American markets."
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
