Home » Industrial Distribution Group Stockholders Approve Acquisition
Industrial Distribution Group Stockholders Approve Acquisition
June 18, 2008
The stockholders of Industrial Distribution Group, Inc., Atlanta, GA, distributor of maintenance, repair, operating and production (MROP) products and integrated supply services, have voted to approve the merger in which the company will be acquired by an affiliate of Luther King Capital Management.
The closing of the deal is expected to occur in mid-July 2008.
We are pleased to have completed this essential step for the merger with LKCM. We will be working closely with LKCM and its personnel to achieve an expeditious closing and smooth transition," said President and CEO Charles Lingenfelter.
"We are delighted that IDG's other shareholders saw the value in this transaction, just as we are excited about our acquisition of IDG," said J. Bryan King, principal of Luther King Capital Management. "We look forward to working with IDG management and representatives in order to improve the company's position in the industrial distribution marketplace. We are working diligently with IDG and its personnel to close the transaction as quickly as possible."