Industrial Distribution Group Inc. agreed to be acquired by an affiliate of Platinum Equity Advisors LLC.

Under the terms of the deal, the private equity firm will pay roughly $10.30 per share and assume all of the Atlanta-based MRO distributor's debt, for a total of roughly $113 million in cash.

"We are pleased with the new and exciting opportunities that being a part of Platinum Equity will offer our company and our customers," president and CEO Charles Lingenfelter said. "We believe that Platinum's service industry focus will provide a great fit for our company and constituents."

"We are very excited about the IDG business and its potential synergy with our existing portfolio company, Strategic Distribution Inc.," added Platinum Equity senior vice president for operations Jim Hoffer. "The SDI management team has already identified several key areas of strategic organic growth for collaboration with the IDG management team."

In January, 2007, Strategic Distribution Inc. merged with Project Eagle Holding Corp. and Project Eagle Merger Corp., each a Platinum Equity portfolio company.

The Bristol, Pa.-based company provides MRO supply chain management solutions.

IDG ranked 19th on INDUSTRIAL DISTRIBUTION’s 2007 Big 50 list of distributors, with 2006 sales of $547.9 million.