United Central Industrial Supply Completes Merger with GHX Holdings

NEW YORK, Oct. 10, 2012 /PRNewswire/ -- United Central Industrial Supply, a company majority owned by American Securities and the largest mining supply distribution company in North America, has merged with GHX Holdings, a leading fluid transfer and sealing products distributor in the energy market. The combined company is now operating as The United Distribution Group Inc. Terms of the transaction were not disclosed.

As a result of the transaction, The United Distribution Group is a leader in offering industrial supplies and services, from underground mining products to gasket and sealing products, to end users in the energy and natural resources markets.

"The combined business brings together two leaders in their respective end markets, each in a highly fragmented space," said Matthew F. LeBaron of American Securities. "GHX brings the company meaningful product, customer, vendor, and end market diversification, as well as substantial scale."

Following the acquisition of GHX, The United Distribution Group will be organized into two business units: United Central, which will distribute essential supplies to the underground mining industry, and GHX, which will distribute industrial fluid transfers and sealing solutions mainly to the energy markets.

"GHX is a significant addition to our offering. The company has long standing, entrenched customer relationships and a highly experienced management team," said Darrell Cole, President and Chief Executive Officer of The United Distribution Group. "We see significant long-term growth opportunities and attractive market dynamics in the diverse end markets in which we operate. We look forward to working together to realize this growth potential."

"We look forward to being part of this growing portfolio," said Daniel Ahuero, Vice President of Mergers & Acquisitions of The United Distribution Group and former Executive Chairman of GHX. "The combined entity has a compelling competitive position and actionable growth opportunities through customer penetration and add-on acquisitions in this highly fragmented industry."

About American Securities
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $500 million to $2 billion.  American Securities has over $8 billion under management and is currently investing from its sixth fund.  The firm traces its roots to a family office founded in 1947 to invest and manage a share of the fortune created from the growth of Sears, Roebuck & Co in the early 1900s.  More information about American Securities can be found at www.american-securities.com.

About United Central
Established in 1974, United Central Industrial Supply and its subsidiaries, National Mine Service of Canada and Gooding Rubber, Inc., are North America's premier full line, full service mining and industrial supplies distributor. The company operates 26 locations in 11 states and Canada, and provides a broad range of maintenance, repair and operating supplies in addition to specialty products and services, including cable, electrical, safety, hydraulics, material handling and gas detection products.

About GHX
Based in Houston, TX, GHX, formerly a portfolio company of The CapStreet Group, LLC, is a leading fluid transfer and sealing products distributor to companies participating in diverse energy and other end markets.  The company offers comprehensive solutions-focused capabilities through three primary product categories: hoses and fittings, gaskets and sealing products, and valves.  GHX currently operates 39 locations through the US and Canada.

Contact information:
Caroline Harris
Prosek Partners
212.279.3115 ext 233
[email protected]

SOURCE American Securities LLC

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