Platinum Equity, Los Angeles, CA, has completed its acquisition of Strategic Distribution, Inc., MRO distributor to industrial and institutional customers in the U.S., Canada, and Mexico.
The acquisition is a public-to-private transaction and Strategic Distribution Inc. has been delisted from the NASDAQ exchange, with each share of common stock converted into the right to receive $10 in cash per share.
In conjunction with the acquisition, Platinum Equity announced that Rudi Strobl has been appointed as CEO of the business. Strobl is a senior executive who previously served as Deputy CEO of DyStar, a Platinum Equity company that is a manufacturer of textile dyes.
