Stellar Industrial merges with Impact
Stellar Industrial Supply announced the signing of a definitive agreement to join forces with Impact Industrial Supplies, of Tampa Bay, Fla.
The closing of the transaction is scheduled for June 1. Terms were not disclosed.
“The combination of two excellent companies will provide great benefits to all of our constituents, including our customers, employees and vendors. We will be able to provide a broader and deeper array of supplies and services to our customers with our combined companies. This will make us much stronger in our highly competitive market,” said John S. Wiborg, president and CEO of Stellar.
The acquisition is the first for Stellar in the Southeast United States. It currently operates from 12 locations in Washington, Oregon, California and Montana.
According to John Diaz, founder and president of Impact Industrial Supplies, “We feel that this transaction makes a great deal of sense for all concerned or affected by it. We will be working very hard to ensure the transition from two organizations to one is as smooth and seamless as possible. I am confident that this is a very positive direction for our company and will be of great benefit to our customers, employees and vendors. I am looking forward to serving our customers, vendors and employees in the future with the same level of honesty, straightforwardness and commitment they have come to know.”
Diaz will join Stellar’s team as vice president of sales and business development – Southeast Region.
After the combination is completed, Stellar, headquartered in Tacoma, Wash., will have approximately 171 employees.
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