OfficeSource Acquires NDI Wholesale, Largest Independent Office Furniture Wholesale Supplier in the Southeast

OfficeSource further expands its coast-to-coast distribution network in the mid-market office furniture segment with latest acquisition


DENVER, April 30 /PRNewswire/ — OfficeSource Inc., a leading
wholesaler of office furniture, today announced it has acquired NDI
Wholesale, the largest independent office furniture wholesaler in the
Southeast. Headquartered in Nashville, Tenn., NDI Wholesale is a 27
year-old company that services more than 530 active customers located
throughout a seven-state region, including Kentucky, Tennessee, Louisiana,
Mississippi, Alabama, Georgia and Florida.
OfficeSource was founded in May 2004 by office products executives Todd
Elmers and Richard Millett. OfficeSource’s vision is to improve the
performance and service of the wholesale furniture mid-market segment
through improved operational efficiencies and a nationwide distribution
system. The company is executing its business model through a carefully
planned acquisition strategy coupled with organic sales growth.
“The addition of NDI Wholesale fits our business model and strategy
perfectly,” explained Elmers, chairman and CEO. “It takes our
coast-to-coast presence another step closer toward a full nationwide
distribution network. Plus, the caliber of the people, service and
relationships NDI Wholesale has built are right in line with our
‘nationwide distribution model with a localized presence’ philosophy. It
has strong, long-term relationships that will provide enormous value to
OfficeSource’s overall strength and leadership position.”
NDI Wholesale complements OfficeSource’s existing locations, products
and services. NDI Wholesale dealers provide a complete array of office
furniture as well as interior design services. The company has three
distribution centers located in Nashville, Birmingham, Ala. and the
Orlando, Fla. area.
Since its formation in May 2004, OfficeSource has been steadily
executing its strategy of building out a nationwide distribution network
and leadership position as the top wholesaler of office furniture for the
mid-market segment. To date, it has acquired four companies: Kansas
City-based Mid-Continent Office Distributors; Sacramento-based Equipment
Distributors; Pennsylvania-based COE Distributing; and, now NDI Wholesale.
Growth and expansion have yielded some impressive results. With this
latest acquisition, Elmers says OfficeSource has a current revenue run rate
of $120 million.
“We’re building out an infrastructure that creates a lot of value for
our customers,” Elmers said. “Lower cost, high value through a localized
presence. It’s a key differentiator that will help us grow and maintain a
long-term, loyal customer base for years to come.”
ABOUT OFFICESOURCE
Based in Denver, OfficeSource was founded in May 2004 to address the
need for a national wholesale distributor of mid-market office furniture.
It is the largest distributor in the United States dedicated exclusively to
mid-market office furniture. The company has revenues of $120 million and
is committed to preserving the local-level service and relationships
developed by the companies it acquires. OfficeSource has 280 employees and
15 distribution centers coast-to-coast. The company’s Web site is
http://www.officesource.net
Contact: Terri Douglas
Catapult PR-IR
tdouglas@catapultpr-ir.com
(303) 581-7760, ext. 18
SOURCE OfficeSource Inc.