Continuing to expand its share of the high-end video display distributor business Electrograph Systems said it has acquired specialty flat-panel display vendor International Computer Graphics (ICG), a West Coast distributor of specialty displays, digital imaging peripherals and A/V presentation products.
Electrograph said the addition of ICG “roughly doubles” its revenues to more than $550 million annually, while strengthening its presence on the West Coast. ICG is based in City of Industry, Calif.
Electrograph now has 16 sales offices and 10 distribution centers across the United States. The transaction is Electrograph's third strategic acquisition since it was acquired in August 2005 by Caxton-Iseman Capital in partnership with Alan Marc Smith, Electrograph's CEO, and Sam Taylor, its president.
In February, Electrograph acquired ActiveLight, a leading value-added distributor of display technology solutions to the professional, commercial and high-end consumer markets, and CineLight, a value-added distributor of advanced display technology products and accessories to home theater designers and resellers.
“Just 11 months ago Electrograph was a $160 million [revenue] company and this moves us significantly closer to our goal of being a billion-dollar distributor,” Smith said in a statement on the move. “We don't look at this deal as a consolidation but as an accretive acquisition.”
As part of the acquisition, the three executive members of the ICG management team have purchased equity stakes in Electrograph and will become part of the management team. ICG founder Mike Ahmar was named Electrograph's COO; Robbie Chikhani was named national accounts senior VP, and David Thompson was named chief information officer.
Frank Lincks will continue to serve as the company's chief financial officer.
ICG's resellers support commercial and consumer technology markets, including IT, digital signage, health care, financial, retail POS and other growing vertical markets. ICG suppliers include NEC, Sony, Viewsonic, Pioneer, Panasonic, Samsung, Epson, Toshiba, Philips, InFocus, Sharp, LG and others.