Hauppauge, NY–Display distributor Electrograph Systems has broaden its reach with the acquisition of fellow display distribution firm, International Computer Graphics Inc. The financial terms of the transaction were not disclosed.
According to Electrograph, the acquisition of ICG roughly doubles the company’s revenues to more than $550 million annually and strengthens its presence on the West Coast as well as across the United States. The companies combined have over 45 years in business as distribution leaders, with 16 sales offices and 10 distribution centers across the U.S.
The transaction is Electrograph’s third strategic acquisition since it was acquired in August 2005 by Caxton-Iseman Capital Inc. in partnership with Alan Marc Smith, Electrograph’s CEO, and Sam Taylor, its president. In February 2006, Electrograph acquired ActiveLight, a value-added distributor of display technology solutions to the professional, commercial, and high-end consumer markets; and CineLight, a value-added distributor of advanced display technology products and accessories to home theater designers and resellers.
“I am extremely excited about the acquisition of ICG. Strategically, the deal is a home run; just eleven months ago Electrograph was a $160 million (revenue) company and this moves us significantly closer to our goal of being a billion-dollar distributor,” said Smith. “We don’t look at this deal as a consolidation but as an accretive acquisition. ICG brings Electrograph a new customer base, a strong presence in the IT market, and additional product lines. Further, ICG has a highly efficient infrastructure, additional warehouses and, most importantly, a wealth of talent in its people. We will also have a better platform from which to address our future growth potential and value-creation opportunities. ICG brings us a critical leg in the foundation we are building and further drives our stake in the ground as a premier display technology distributor in the United States.”
For more information, visit www.electrograph.com.