LBMX Announces Strategic Acquisition of Buying Group Services
Today, LBMX Inc., a globally recognized business marketplace experience provider is pleased to announce that it has acquired Buying Group Services (BGS), in an all-shares transaction effective January 1, 2022.
This strategic acquisition brings together two firms focused on helping independent businesses prosper in a rapidly changing business environment. LBMX is the leading technology provider focused on buying groups, GPO’s and purchasing coops, and BGS is a leading firm providing managed services to similar organizations.
This arrangement will make it possible for LBMX to grow their expertise in managed services and offer additional solutions to their group customers. In addition, the acquisition will position LBMX to provide services such as central payments and the enrichment of PIM data to independents and suppliers who use their cutting edge, open marketplace platform.
Greg Dinsdale, President and CEO, of LBMX Inc. said, both firms share a similar passion in helping independent businesses thrive, using a technologically driven approach. We are excited to welcome BGS’ current group of buying groups and purchasing cooperatives to our family of independents. Coming together results in a larger company, which provides the complete solution and creates an unparalleled trading ecosystem for independents, their suppliers, and buying groups alike.
Morgan Williston, COO of BGS stated this arrangement means LBMX will become the dominant force in providing platform solutions for independents engaging with their supplier base and provide our current buying groups with a further technological advantage for use in their operations. The combined company will have a presence in most verticals with emphasis in HVAC, electrical, plumbing, building materials, window and door, and food service equipment, all of which will benefit from the deeper integration our combined company can provide. We are excited that our team can contribute to this vision.
The acquisition will add a managed services component to an already impressive portfolio of EDI, PIM, and eCommerce solutions. Whether through their private group marketplace solutions or through their open marketplace platform, LBMX is positioned to provide independents with access to high value B2B applications, while providing their suppliers with opportunity to address the needs of their independent distributor customers seamlessly.
LBMX offers a business-to-business marketplace platform, helping independent businesses, their buying groups, and suppliers buy better and sell more. Its Private Group Marketplace for Groups has transformed billing and ordering, rebate management, real-time analytics, e-commerce and product information management across the building materials, HVAC, plumbing, sporting goods, industrial supply, manufacturing, and agricultural industries. Its LBMX Supply Cloud platform allows suppliers to look at their industrial distribution customers through one lens, offering full EDI, PIM, Analytics and Payments.