Global Industrial Company (NYSE: GIC), Port Washington, N.Y., a value-added distributor of industrial products and MRO supplies, has acquired Indoff Inc. for close to $70 million.
Indoff had $180 million in revenue in 2022.
Indoff Inc., headquartered in St. Louis, Mo., is a business solutions provider and distributor serving the U.S. and Canada. Indoff provides businesses with material handling/warehouse solutions, commercial interiors and business and promotional products.
“Indoff is a strong and growing company and provides a great strategic fit with Global Industrial’s business and multi-channel sales model,” said Barry Litwin, CEO of Global Industrial Company. “Indoff’s network of more than 350 sales partners extends our one-to-one sales reach to new customers and markets. In addition, strong core product alignment in material handling, indoor and outdoor furniture, storage and shelving, appliances and other core categories, along with new service capabilities and project-related expertise, further strengthens our overall value proposition. We see several opportunities to enhance the value we collectively provide, including opening a new channel to deliver Global’s Exclusive Brand offering and national brand assortment and the broader utilization of B2B ecommerce platforms.”