IDG acquisition by Luther King affiliate finalized

Industrial Distribution staff -- Industrial Distribution, 8/7/2008 8:02:00 AM

The acquisition of the Industrial Distribution Group by Eiger Holdco, LLC, an affiliate of Luther King Capital Management, has been finalized.

IDG is an Atlanta-based supplier of MROP products to manufacturers and other industrial users. The deal was originally announced in June.

"We will be a more agile company with the ability to adapt more swiftly in response to market changes," Charles Lingenfelter, IDG's president and CEO, said in a statement.

IDG’s common stock is no longer listed for public trading on the NASDAQ Global Market. 

"We are pleased with the completion of the acquisition of IDG and look forward to working with them to leverage IDG's position in the marketplace," said J. Bryan King, principal of Luther King Capital Management.

IDG ranked 18th on Industrial Distribution’s 2008 Big 50 list of distributors, with 2007 sales of $537.5 million.

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