Sonepar North America, a subsidiary of the privately held France-based Sonepar Group, has agreed to acquire Industrial Distribution Group, a portfolio company of LKCM Capital Group LLC headquartered in Belmont, NC.
MDM ranks IDG as the 22nd largest industrial distributor in the U.S., with 2013 revenues of $734 million and 1,365 associates. The company has 42 locations in the U.S. and over 170 on-site customer locations in North America, Asia and Europe, operating in three major businesses: industrial distribution, integrated supply solutions and energy distribution.
Sonepar USA is ranked by MDM as the largest U.S. electrical distributor with 2013 revenues of $7.7 billion.
“The acquisition of IDG strengthens our position in the integrated supply and MRO space, enhancing our North American footprint and reach," said Sonepar North America CEO Dave Gabriel. "The combined synergies between Hagemeyer North America and IDG in the integrated supply, industrial distribution and technical services areas will allow us to expand our portfolio to better meet the needs of our customers.”
“We are delighted to become a part of a leading global distribution organization such as Sonepar and its North American affiliate Hagemeyer North America," said IDG President Charles Lingenfelter. "Merging the people, processes and resources of these leading industrial organizations will create many opportunities for our customers, suppliers and associates.”
Franck Bruel, CEO of Sonepar Global, said, “The addition of IDG reinforces our strategic commitment to our industrial / MRO business. IDG complements our Sonepar North America business, broadens our industrial offering and enhances our global platform.”