---
schema_version: "secwatch.filing_event.v1"
accession: "0000945114-23-000059"
form_type: "8-K"
ticker: "GIC"
cik: "0000945114"
company_name: "GLOBAL INDUSTRIAL Co"
filed_at: "2023-05-22T23:59:59+00:00"
generated_at: "2026-06-14T19:01:54.576393+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Global Industrial buys Indoff for $69.2M cash; adds 350+ sales partners

## Summary
- Cash purchase price of ~$69.2M funded from existing credit facility and cash on hand.
- Indoff had ~$180M revenue in 2022; implied multiple of ~7.3x pre-tax income.
- Acquisition adds over 350 sales partners; Indoff to operate as subsidiary under current brand and leadership.
- Strategic fit to open new channel for Global's exclusive brands and strengthen product alignment.

## SEC filing metadata
- accession: 0000945114-23-000059
- form_type: 8-K
- ticker: GIC
- cik: 0000945114
- company_name: GLOBAL INDUSTRIAL Co
- filed_at: 2023-05-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/945114/000094511423000059/0000945114-23-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/945114/000094511423000059/gic-20230519.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000945114-23-000059
- JSON: https://secwatch.observer/filing/0000945114-23-000059.json
- Plain text: https://secwatch.observer/filing/0000945114-23-000059.txt

## Key facts
- Material Agreements
  GLOBAL INDUSTRIAL Co entered into Securities Purchase Agreement with the holder ("Seller") of 100% of the issued and outstanding equity interests (both voting and economic) of Indoff, and certain direct and indirect owners of the Seller who beneficially own Indoff through the Seller ("Seller Owners") valued at approximately $69.2 million (effective 2023-05-19).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: the holder ("Seller") of 100% of the issued and outstanding equity interests (both voting and economic) of Indoff, and certain direct and indirect owners of the Seller who beneficially own Indoff through the Seller ("Seller Owners")
  - Value: approximately $69.2 million
  - Effective: 2023-05-19
  source text: On May 19, 2023 (the "Closing Date"), a wholly-owned subsidiary (the "Purchaser") of Global Industrial Company (the "Company") entered into and completed certain transactions contemplated by a Securities Purchase Agreement (the "Purchase Agreement") with the holder (the "Seller") of 100% of the issued and outstanding equity interests (both voting and economic) of Indoff ("Indoff"), and certain direct and indirect owners of the Seller who beneficially own Indoff through the Seller (the "Seller Owners").
  evidence_url: https://www.sec.gov/Archives/edgar/data/945114/000094511423000059/0000945114-23-000059-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.