Posted June 8, 2010
IDG finalizes buyout of Alamo Iron Works
Industrial Distribution Group finalized its acquisition of Alamo Iron Works on June 7.
IDG made a bid for Alamo Iron Works after the San Antonio, Texas-based company filed for Chapter 11 bankruptcy protection in April. The U.S. Bankruptcy Court approved Alamo Iron Work's sale to Industrial Distribution Group last month.
"The purchase of Alamo Iron Works preserves the legacy of a 135-year-old company that has played an integral role in the growth and development of San Antonio and South Texas," said Scott Prince, lead director of the IDG board. "AIW will now offer a breadth of products and sophistication of service that has never been available to South Texas manufacturers and builders before."
IDG currently distributes 400,000 products from 10,000 suppliers to more than 15,000 customers through 14 distribution centers throughout North America and China.
"With IDG's entrance into the regional market, South Texas is now home to a national leader in the industrial supply sector," said Prince. "With manufacturing continuing to lead the economic recovery, AIW is poised to play a critical role in the region's success."
IDG is owned by Texas-based investment group Luther King Capital Management.
