Strategic Distribution, Inc., Bristol, PA, has agreed to be bought out by Platinum Equity for $30 million.
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The transaction is expected to be complete by the end of March. The deal stipulates that Strategic Distribution will merge with Project Eagle Holding Corp. and Project Eagle Merger Corp., each a Platinum Equity portfolio company.
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The MRO distributor reported revenues of $136.9 million in 2005 and a net loss of $3.4 million. Its numbers haven’t improved much in fiscal 2006, with the company recording losses in the first and second quarter, and a slight gain of $0.2 million in the third.
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In November, Strategic announced its board of directors had received a letter from the board’s Chairman William R. Berkley, …
