Industrial Distribution acquired by Luther King Capital affiliate for $12.10 cash per share

By Lisa Kerner

Charlotte, N.C., Aug. 6 - Luther King Capital Management Corp. affiliate Eiger Holdco, LLC completed the acquisition of Industrial Distribution Group, Inc.

Industrial Distribution said each share of its common stock was cancelled and converted automatically into the right to receive the merger consideration of $12.10 per share in cash.

As a result of the merger's completion, Industrial Distribution's common stock is no longer listed for public trading on the Nasdaq Global Market.

In April, Industrial Distribution announced it agreed to be acquired by Luther King Capital for $12.10 per share.

Industrial Distribution shareholders approved the merger in June.

Atlanta-based Industrial Distribution supplies maintenance, repair, operating and production products and services to manufacturers and industrial users in the United States and China.

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