Global Industrial Acquires Indoff Inc.
-Provides New Sales Channel and Diversifies Customer Base-PORT WASHINGTON, NY / ACCESSWIRE / May 22, 2023 / Global Industrial Company (NYSE:GIC), a value-added national distributor of industrial products and MRO supplies, today announced that it has acquired 100% of the issued and outstanding equity interests of Indoff ("Indoff") for approximately $69.2 million in cash. The acquisition was funded from the Company's existing credit facility and cash on hand. Indoff generated revenue of approximately $180 million in 2022. Barry Litwin, Chief Executive Officer of Global Industrial Company, said, "Indoff is a strong and growing company and provides a great strategic fit with Global Industrial's
