Stellar Industrial Supply has begun its 2024 continued national expansion.
The Tacoma, WA-based MRO supplies distributor announced Jan. 2 that it has signed an agreement to acquire IMC Supply — a 64-year-old metalworking supplies distributor based in Memphis, TN.
Terms were not disclosed for the transaction, which closed Dec. 31, 2023.
IMC brands itself as a wholesale MRO supplier specializing in cutting tools for the industrial and construction industries throughout the U.S. mid-south throughout much of Tennessee, Mississippi and Arkansas. IMC’s product portfolio of steel and carbide drills, reamers, taps, dies, end mills, indexable carbide, blueprint special tools, abrasives, PPE and other MRO supplies are accompanied by industrial vending and VMI programs.
IMC’s sister company, 1sourcevend, offers distributors nationwide a selection of software-powered coil and locker vending machines and inventory management planning. The Stellar acquisition does not include the assets of 1sourcevend.
IMC becomes the 19th regional hub for Stellar as it further builds out its coast-to-coast presence. Most recently, Stellar acquired Knoxville, TN-based metalworking supplies distributor The Tool Crib in August 2023. Also last year, Stellar merged the business and Salt Lake City and Spokane regional distribution centers from industrial distribution and supply chain management services provider White Distribution & Supply into its platform, along with the opening of a New Jersey warehouse and branch office.
Stellar completed four acquisitions during 2022.
“Stellar Industrial Supply is grateful to expand our coast-to-coast presence as this acquisition gives us an immediate strong Southeast regional footing,” company Owner, President and CEO John Wiborg said in a news release. “Mark Hill (IMC President) has done a marvelous job building IMC’s outstanding reputation for delivering high value, consultative partnering with their customers. That approach perfectly mirrors the laser-focused, customer-centric approach we strive for at Stellar.”
Stellar detailed that its 19 regional hubs now include: Portland, OR; Albany, OR; Everett, WA; Tacoma, WA; Seattle, WA; Spokane, WA; Los Angeles-Metro; Upland, CA; Central Valley, CA (San Luis Obispo, Ventura); Salt Lake City, UT; Sparks, NV; Denver, CO; Billings, MT; Phoenix, AZ; Knoxville, TN; Memphis, TN; Lawrence, PA; and Tampa, FL.
Meanwhile, Stellar said that IMC’s VMI capabilities and cost savings capabilities will complement Stellar’s Documented Cost Savings program, which the company noted has generated over $186 million in customer-verified cost savings, including nearly $18 million in 2023.
“Over its six decades of operation, IMC Supply has been a cornerstone for many families, contributing to the local economy and fostering a sense of community,” Hill said. “I have had the privilege of knowing John Wiborg for many years. I am confident that his leadership will ensure the continuation of the IMC legacy. The symbiosis between the legacy of IMC and the national reach of Stellar Industrial is expected to bring about positive changes for both entities and the community at-large.”
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