The Big U.S. Office Industry Merger is ON! Are You Part Of It?.

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The Big U.S. Office Industry Merger is ON! Are You Part Of It?.

 news 2019-06-20 at 11:27:23 am Views: 393
  • #51632
    The Big U.S. Office Industry
    Merger is ON! Are You Part Of It?.

    Longtime local office-supplies firm plans merger, HQ move to Illinois.
    By IBJ Staff.

    Image result for TriMega. Pinnacle Independent Suppliers Group Inc
    Independent Suppliers Group Inc., an office-supply cooperative that’s been based in Indianapolis since 1977, plans to merge with two other office-supply dealer groups and move its headquarters to a Chicago suburb.
     
    ISG—which was known by the name Independent Stationers Inc. until changing it in October—announced Tuesday that its shareholders have approved a merger with Rosemont, Illinois-based cooperative TriMega Purchasing Association and Chicago-based Pinnacle Affiliates.
     
    TriMega and Pinnacle shareholders also voted to approve the deal. Financial terms were not disclosed.
     
    The merged group will use the name Independent Suppliers Group and be based in Rosement. The merger is expected to be effective July 1.
     
    ISG ranks as the 35th largest private company in Indiana based on 2018 revenue of $287.8 million, according to IBJ research. The company has 20 full-time employees.
     
    Company officials could not be reached Tuesday to say how the headquarters move would affect local employment.
     
    According to the agreement, TriMega President Mike Maggio has been named as CEO of the new group. ISG CEO Mike Gentile will be president and ISG Chief Operating Officer Charles Forman will be executive vice president of sales and marketing. ISG Chief Financial Officer Jeff Matthews will assume the same job.
     
    ISG has about 400 dealer members nationally who sell office supplies, school supplies, office furniture, technology supplies and other products.
     
    TriMega, founded in 1987, says it has 500 dealer members in all 50 states and Puerto Rico.
     
    Pinnacle, founded in 2008, has about 30 dealer members.