This article contains content that is written like an advertisement .(December 2020) |
Formerly | Systemax |
---|---|
Company type | Public [1] |
NYSE: GIC Russell 2000 Component | |
Industry | Industrial Supplies and MRO |
Founded | 1949 |
Headquarters | , U.S. |
Area served | Nationwide |
Key people | |
Revenue | US$1.265 billion (2017) [2] |
Divisions | Industrial Products |
Subsidiaries |
|
Website | www |
Global Industrial Company, is a Port Washington, New York based company and is a provider of industrial and MRO (maintenance, repair, and operating supply) products through a system of branded e-Commerce websites and relationship marketers in North America. The primary brand is Global Industrial. [3]
The company was founded in 1949 as Global Equipment Company, a material handler. It first entered direct marketing in 1972 and began marketing computer equipment in 1981. The company changed its name to Global Direct-mail, in 1995 and to Systemax in 1999 and Global Industrial Company in 2021. [4]
Subsidiaries and divisions of Systemax, Inc. include Global Industrial, Nexel, Infotel, C&H Distributors and Avenue Industrial Supply Company. [5] [6]
On January 6, 2008, Systemax Inc. announced an agreement on the acquisition of the Miami-based CompUSA brand, trademarks, and e-commerce business, and as many as 16 CompUSA retail outlets in Florida, Texas, and Puerto Rico. [7] The first new CompUSA store under Systemax ownership was opened in November 2009.
On May 13, 2009, Circuit City announced it would sell its intellectual property, including its trademarks, brand name, and internet domain, to Systemax for $14 million. [8] The deal took effect six days later. The defunct CircuitCity.com website was restored after the Systemax purchase.
In late December 2012, CompUSA and Circuit City were both consolidated into TigerDirect, [9] which Systemax sold to PCM, Inc. on December 1, 2015. [10]
On September 18, 2009 Systemax announced the acquisition of WStore Europe, SA, a European supplier of business IT products with operations in France (Inmac WStore SAS and I-Com Software) and in the United Kingdom (WStore UK Limited). [11]
On June 12, 2014, Systemax announced the acquisition of SCC Services B.V., a supplier of business-to-business IT products and services with operations in the Netherlands. This subsidiary was renamed Misco Solutions. [12]
On January 30, 2015, Systemax announced the acquisition of the Plant Equipment Group ("PEG"), a business-to-business direct marketer of maintenance, repair and operations ("MRO") products, from TAKKT America . PEG serves business customers within the North American MRO market. [13]
On December 1, 2015, Systemax announced the sale of certain Business to Business assets of its North American Technology Group, including TigerDirect to PCM, Inc. [14]
On July 25, 2016, Systemax announced the sale of its Misco Germany assets to CANCOM SE. [15]
On March 27, 2017, Systemax announced the sale of all its European Technology Products Group Businesses, excluding their operations in France. [16]
Sale of French-based Information Technology Business
On September 4, 2018, Systemax announced it has closed the previously announced sale of its France-based IT business to Bechtle AG. [17]
On September 17, 2012, the U.S. Securities and Exchange Commission (SEC) charged a former director of Systemax Inc for fraudulently reaping hundreds of thousands of dollars in undisclosed compensation between January 2006 to December 2010. The SEC alleged that Gilbert Fiorentino, who in addition to serving on the board was the former chief executive of Systemax’s Technology Products Group in Miami, "obtained more than $400,000 in extra compensation directly from firms that conducted business with Systemax." The SEC also alleged Fiorentino of stealing "several hundred thousand dollars worth of company merchandise that was used to market Systemax’s products." Fiorentino failed to disclose his extra compensation and perks to Systemax or its auditors, so that the amounts reported to shareholders were understated. [18]
In April 2011, Systemax placed Fiorentino on administrative leave. On May 9, 2011, Fiorentino agreed to resign from all of his positions with Systemax, surrender stock and stock options valued at approximately $9.1 million, and repay his 2010 annual bonus of $480,000. With Fiorentino's departure, Robert Leeds, Systemax's founding CEO of the technology division, took over as CEO of Systemax's technology products group. [18] [19]
Fiorentino agreed to settle the SEC charges by paying a $65,000 fine and consenting to a permanent bar from serving as an officer or director of any publicly held company. [18]
On December 3, 2014, Gilbert and Carl Fiorentino pleaded guilty for their participation in a bribery scheme, after it was found that between during his employment, Carl had received over $7 million in kickbacks from suppliers he had entered into agreements with Systemax, and obscured his participation in these agreements to Systemax. Gilbert was also charged with conspiracy to commit securities fraud and impeding the operation of the IRS. [20] [21]
On February 21, 2005, the company restated financial results for each of the first three quarters of 2004 and the year ended Dec. 31, 2003, following the discovery of certain inventory accounting errors at the company's British unit. [22] On May 11, 2005, the company restated its results for the year 2004, following the discovery of errors in accounting for inventory at its Tiger Direct Inc. unit, an online retailer. [23]
CompUSA, Inc., was a retailer and reseller of personal computers, consumer electronics, technology products and computer services. Starting with one brick-and-mortar store in 1986 under the name Soft Warehouse, by the 1990s CompUSA had grown into a nationwide big box chain. At its peak, it operated at least 229 locations. Crushed by competition from other brick-and-mortar retailers, corporate oversight which was out of touch with evolving market realities, and a failure to make a strong transition to online sales, CompUSA began closing what they classified as "low performing" locations in 2006. By 2008 only 16 locations were left to be sold to Systemax. In 2012, remaining CompUSA and Circuit City stores were converted to TigerDirect stores, and later closed. As of 2023, the CompUSA online website redirects to an error page hosted on Wix.com.
Circuit City Corporation, Inc., formerly Circuit City Stores, Inc., was an American consumer electronics retail company, which was founded in 1949 by Samuel Wurtzel as the Wards Company, operated stores across the United States, and pioneered the electronics superstore format in the 1970s. After multiple purchases and a successful run on the NYSE, it changed its name to Circuit City Stores Inc.
WESCO International, Inc. is an American publicly traded Fortune 500 holding company for WESCO Distribution, a multinational electrical distribution and services company based in Pittsburgh, Pennsylvania.
TigerDirect was an El Segundo, California-based online retailer dealing in electronics, computers, and computer components. The company was previously owned by Systemax, which is known for its acquisitions of the intellectual property of the defunct U.S. retail chains Circuit City and CompUSA and relaunching them as online retailers. The two brands were subsequently shuttered in late-December 2012 and consolidated into the TigerDirect site.
Signature Aviation is a multinational aviation services company headquartered in Orlando, Florida. The company was founded as W. Wilson Cobbett Ltd in 1879 and subsequently specialised in the manufacture of industrial supplies, particularly in the automotive and aviation sectors. During the Second World War, the company produced materials for British military aircraft, such as the Supermarine Spitfire, Hawker Hurricane, and Hawker Typhoon. During the 1980s and 1990s, the firm decided to increasingly orientate itself towards the aviation industry via a string of acquisitions and divestitures. It was listed on the London Stock Exchange until it was acquired by Cascade Investment, Blackstone Group, and private equity firm Global Infrastructure Partners in May 2021.
Maxim Integrated, a subsidiary of Analog Devices, designs, manufactures, and sells analog and mixed-signal integrated circuits for the automotive, industrial, communications, consumer, and computing markets. Maxim's product portfolio includes power and battery management ICs, sensors, analog ICs, interface ICs, communications solutions, digital ICs, embedded security, and microcontrollers. The company is headquartered in San Jose, California, and has design centers, manufacturing facilities, and sales offices worldwide.
Essendant, formerly known as United Stationers, is a national wholesale distributor of office supplies, with consolidated net sales of $5.3 billion. Essendant stocks over 160,000 items, including traditional office products, office furniture, janitorial and break room supplies, and technology products. Essendant is headquartered in Deerfield, Illinois, and also has operations in Dubai, United Arab Emirates (UAE).
Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retailing headquartered in Brentwood, Tennessee.
Sierra Wireless is a Canadian multinational wireless communications equipment designer, manufacturer and services provider headquartered in Richmond, British Columbia, Canada. It also maintains offices and operations in the United States, Korea, Japan, Taiwan, India, France, Australia and New Zealand.
Integrated Micro-electronics, Inc. provides electronics manufacturing services (EMS) and power semiconductor assembly and test services (SATS) with manufacturing facilities in Asia, Europe, and North America. Its headquarters is located in Biñan, Laguna.
ON Semiconductor Corporation is an American semiconductor supplier company, based in Scottsdale, Arizona. Products include power and signal management, logic, discrete, and custom devices for automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. onsemi runs a network of manufacturing facilities, sales offices and design centers in North America, Europe, and the Asia Pacific regions. Based on its 2016 revenues of $3.907 billion, onsemi ranked among the worldwide top 20 semiconductor sales leaders, and was ranked No. 483 on the 2022 Fortune 500 based on its 2021 sales.
Teledyne FLIR LLC, formerly FLIR Systems Inc,, a subsidiary of Teledyne Technologies, specializes in the design and production of thermal imaging cameras and sensors. Its main customers are governments and in 2020, approximately 31% of its revenues were from the federal government of the United States and its agencies.
Littelfuse, Inc is an American electronic manufacturing company headquartered in Chicago, Illinois. The company primarily produces circuit protection products but also manufactures a variety of electronic switches and automotive sensors. Littelfuse was founded in 1927. In addition to its Chicago, Illinois, world headquarters, Littelfuse has more than 40 sales, distribution, manufacturing and engineering facilities in the Americas, Europe and Asia.
The Home Depot Pro, headquartered in Jacksonville, Florida, is a wholesale distributor and direct marketer of maintenance, repair and operations (MRO) products for non-industrial businesses in the United States. The Home Depot Pro distributes products such as HVAC, janitorial supplies, plumbing supplies, and security supplies.
PCM, Inc. was a direct marketing company that offered technology products and services. The company was based in El Segundo, California. The company merged with Insight Enterprises on August 26, 2019. PCM was founded in 1987 as a direct market catalog via telemarketing, the Internet, direct marketing, print catalogs, and three retail showrooms.
Microsemi Corporation was an Aliso Viejo, California-based provider of semiconductor and system solutions for aerospace & defense, communications, data center and industrial markets.
Misco Technologies Limited is an online retailer based in the United Kingdom. It was formerly an IT brand whose ownership was split between Hilco Capital Limited and Systemax. Misco also operated in Germany until their German operations were sold to CANCOM SE in July 2016.
Huron Consulting Group, commonly known as Huron, is a management consulting firm offering services to the healthcare, life sciences, commercial, and higher education industries.
Global Industrial is a business unit of Systemax Inc, a Fortune 1000 company, listed on the New York Stock Exchange as NYSE: GIC. Global Industrial is incorporated in New York as Global Equipment Company Inc., and conducts business under the names Global Industrial, Global Industrial Equipment, Globalindustrial.ca and GlobalIndustrial.com. The company sells industrial products and office supplies through direct to business channels with headquarters in Port Washington, New York.
AerSale, Inc. is a Coral Gables, Florida-based global supplier of aftermarket commercial jet aircraft, engines, Original Equipment Manufacturer (OEM) used serviceable material, maintenance, repair and overhaul (MRO), and aeronautical engineering services to passenger and cargo airlines, government entities, leasing companies, multinational OEMs, and independent MROs.
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