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August 20, 2018 02:00 AM

SunSource to acquire United Distribution Group

Rubber & Plastics News Staff
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    ADDISON, Ill.—SunSource Holdings Inc. completed a definitive agreement to acquire United Distribution Group Inc., a distributor of fluid conveyance in the energy, mining and industrial markets.

    The terms of the acquisition, which is expected to close in August, were not disclosed, according to a SunSource release.

    The acquisition will strengthen the company's position in the marketplace, benefiting from increased scale and organic and inorganic growth opportunities, SunSource CEO David Sacher said in a statement. UDG's businesses are highly complementary to SunSource's existing business and product portfolio.

    UDG, with more than 140,000 SKUs, operates through two subsidiaries. GHX Industrial is a distributor of fluid conveyance and sealing products serving upstream and downstream energy and diversified markets. United Central Industrial Supply is a provider of maintenance, repair and operations supplies to underground and surface mining sites in North America. UDG also offers custom fabrication and in-house welding, according to the release.

    SunSource obtained committed financing for the transaction from Barclays, Credit Suisse and Deutsche Bank A.G. Barclays acted as financial advisor and Debevoise & Plimpton acted as legal advisor to SunSource. Baird served as financial advisor and Akin Gump Strauss Hauer & Field L.L.P. was legal advisor to UDG.

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