Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Industrial Distribution Group, Inc.
Sale to Luther King Capital Management Corporation
Baird served as the exclusive financial advisor to Industrial Distribution Group's Special Committee and Board of Directors
Industrial Distribution Group, Inc. (“IDG” or the “Company”) (NASDAQ: IDGR) recently completed its merger with an affiliate of Luther King Capital Management Corporation (“LKCM”) in a transaction that paid $12.10 per share in cash to the Company’s stockholders, implying a total transaction value of approximately $131 million.
IDG is a nationwide supplier of maintenance, repair, operating and production (“MROP”) products such as cutting tools, hand and power tools, abrasives, material handling equipment, coolants, lubricants and safety products. The Company also offers an array of value-added MROP services that emphasize and utilize IDG's specialized supply chain knowledge in product procurement, management and applications and in-process improvements to deliver documented cost savings for customers. The Company serves approximately 12,000 active customers, representing a diverse group of large and mid-sized national and international corporations such as Boeing, Ford and Honeywell, as well as many local and regional businesses.
LKCM, a stockholder of IDG prior to this transaction, provides investment management services to investment companies, foundations, endowments, employee benefit plans and high net worth individuals.