Systemax To Buy Business-to-business MRO Supplier Plant Equipment Group

(RTTNews) - Systemax Inc. (SYX) said that its Industrial Products Group has agreed to acquire the Plant Equipment Group from TAKKT America for $25 million in cash, subject to certain customary closing conditions. Plant Equipment Group is a business-to-business direct marketer of maintenance, repair and operations or MRO products.

The acquisition, which will be funded from Systemax's cash on hand, is expected to close in January 2015.

Milwaukee, Wisconsin-based PEG serves business customers within the North American MRO market through its portfolio of selling brands, including its flagship U.S. brand C&H Distributors as well as Products For Industry, based in the U.S.; IndustrialSupplies.com, also based in the U.S.; Avenue Supply, based in Canada; and C&H Productos, based in Mexico.

PEG generated revenue of about $100 million in its 2013 fiscal year.