- Global Industrial Company (NYSE:GIC) has acquired Indoff Inc., a value-added business solutions provider, and distributor, for ~$69.2 million in cash.
- The acquisition was funded from the Company’s existing credit facility and cash on hand.
- For FY22, Indoff generated revenue of ~$180 million. Indoff will continue to operate under its current brand and leadership team as a wholly-owned subsidiary of Global Industrial Company.
- Barry Litwin, Chief Executive Officer of Global Industrial Company, comments, “Indoff is a strong and growing company and provides a great strategic fit with Global Industrial’s business and multi-channel sales model. Indoff’s network of more than 350 sales partners extends our one-to-one sales reach to new customers and markets.”
- At March 31, 2023, Global Industrial held cash and cash equivalents of $48.2 million and excess availability under its credit facility of ~$116.6 million.
- Price Action: GIC shares are trading higher by 1.23% at $24.66 on the last check Monday.
Unifi Collaborates With Microsoft And Artis Consulting To Apply Artificial Intelligence And Advanced Data Modeling To Its Ground Safety Operations
North America's largest aviation services company, Unifi, is leveraging an advanced safety risk analytics model created with help from Microsoft Azure and Artis Consulting for all its ground handling contracts.
