LOS ANGELES--(BUSINESS WIRE)--Platinum Equity announced today that it has completed the acquisition of Strategic Distribution, Inc., which provides supply chain management solutions for industrial and institutional customers in the United States, Canada, and Mexico.
The acquisition is a public-to-private transaction and Strategic Distribution Inc. has been delisted from the NASDAQ exchange, with each share of common stock converted into the right to receive $10 in cash per share.
In conjunction with the acquisition, Platinum Equity announced that Rudi Strobl has been appointed as CEO of the business. Strobl is an experienced senior executive who previously served as Deputy CEO of DyStar, a Platinum Equity company that is one of the world’s leading manufacturers of textile dyes.
Strategic Distribution, Inc. is an outsourced provider of supply chain management for parts, supplies, production materials, HVAC, plumbing equipment and material handling equipment for a blue chip customer base. Its programs permit organizations to outsource all aspects of their MRO supplies procurement. Strategic Distribution takes responsibility for purchasing, receiving, stocking, issuing and delivering supplies at the customer site. It also manages customers' inventories using its information system In-Site and offers solutions that enable customers to manage the procurement of supplies using tools and systems applications.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, manufacturing, and entertainment distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 70 acquisitions with more than $15.5 billion in aggregate annual revenue at the time of acquisition.
About Strategic Distribution, Inc. (SDI)
SDI helps customers optimize their business performance and meet strategic goals by providing technology and supply chain solutions to increase productivity and reduce total costs. Commercial and industrial customers, as well as educational institutions, benefit from reduced costs and increased efficiencies in the procurement and management of MRO materials. Additional information about SDI can be found on the company's web site at www.sdi.com.