17/04/2019 - 15:48

Stealth Global acquires Industrial Supply Group for $1m

17/04/2019 - 15:48

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Workplace consumable products supplier and distributor Stealth Global has acquired distribution business Industrial Supply Group for about $1 million, the third deal the company has made since listing on the ASX in October 2018.

Stealth Global acquires Industrial Supply Group for $1m
Stealth managing director Mike Arnold says the acquisition of Industrial Supply Group is consistent with Stealth’s growth strategy and business model.

Workplace consumable products supplier and distributor Stealth Global Holdings has acquired distribution business Industrial Supply Group for about $1 million, the third deal the company has made since listing on the ASX in October 2018.

After floating, Stealth Global has acquired Heatleys Safety & Industrial, established the BSA Brands joint venture with Bisley Workwear and now picked up Industrial Supply Group.

In a statement, Stealth Global said the acquisition would give it an Australia-wide footprint to expand its business, deliver greater buying power, increase the group’s offering to customers and improve overall competitiveness. 

Industrial Supply Group has 27 members, 35 trade outlets, more than 400 suppliers, online product catalogues and a combined trading volume of more than $180 million.

Stealth Global will pay $1 million in cash over a two-year period.

Stealth managing director Mike Arnold said the acquisition of Industrial Supply Group was consistent with Stealth’s growth strategy and business model and was expected to deliver significant strategic benefits to its Australian business.

“The acquisition is consistent with Stealth’s growth strategy and business model, and is expected to deliver significant strategic benefits to our Australian business,” Mr Arnold said.

“Strategically we have done everything we said we would do since listing on the ASX and more, and the achievements are significant in their own right for a business of our size.

“The investments made by Stealth in recent months have been very specific and strategic in their nature, creating a business well on the path to achieve its longer-term targeted revenue of $200 million by 2024.”

 

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