{{Short description|American industrial and MRO product company}}{{Promotional|date=December 2020}} {{Infobox company | name = Global Industrial Company | logo = | type = Public<ref name="sysstock">{{cite web|url=http://www.systemax.com/stockholder.htm |title=Systemax - Press |access-date=April 26, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20080225094552/http://www.systemax.com/stockholder.htm |archive-date=February 25, 2008 }}</ref> | traded_as = {{nyse|GIC}}<br/>Russell 2000 Component | former_name = Systemax | area_served = Nationwide | key_people = {{unbulleted list| Anesa Chaibi (CEO)<ref>{{Cite news|url=https://investors.globalindustrial.com/news/news-details/2025/Global-Industrial-Company-Announces-Appointment-of-Anesa-Chaibi-as-Chief-Executive-Officer/default.aspx|title=Global Industrial Company Announces Appointment of Anesa Chaibi as Chief Executive Officer}}</ref>|Tex Clark (CFO)}} | industry = Industrial Supplies and MRO | revenue = {{increase}}US$1.3 billion (2024)<ref>{{Cite news|url=https://investors.globalindustrial.com/news/news-details/2025/Global-Industrial-Reports-Fourth-Quarter-and-Full-Year-2024-Financial-Results/default.aspx|title=Global Industrial Reports Fourth Quarter and Full Year 2024 Financial Results}}</ref> | divisions = Industrial Products | subsidiaries = {{unbulleted list|Global Industrial|Nexel|Infotel|C&H Distributors|Avenue Industrial Supply Company|Indoff Incorporated}} | website = {{URL|https://www.globalindustrial.com/}} | founded = {{Start date and age|1949}} | hq_location_city = Port Washington, New York | hq_location_country = U.S. }} '''Global Industrial Company''' is a Port Washington, New York–based company providing 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.<ref>{{Cite news|url=https://www.prnewswire.com/news-releases/systemax-closes-sale-of-france-operations-300705986.html|title=Systemax Closes Sale Of France Operations}}</ref>
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.<ref>{{cite press release | url=https://www.accesswire.com/650903/Systemax-to-Change-its-Name-to-Global-Industrial-Company | title=Systemax to Change its Name to Global Industrial Company |date = June 9, 2021 | access-date = August 23, 2021 | publisher = Accesswire}}</ref>
thumb|Former Systemax logo
==Subsidiaries and divisions== Subsidiaries and divisions of Global Industrial Company include Nexel, Infotel, C&H Distributors and Avenue Industrial Supply Company.<ref name="sysdiv">{{cite web|url=http://www.systemax.com/divisions.htm |title=Systemax |access-date=April 26, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20080516050537/http://www.systemax.com/divisions.htm |archive-date=May 16, 2008 }}</ref><ref>{{Cite web|url=http://syx.client.shareholder.com/secfiling.cfm?filingID=1140361-16-58278&CIK=945114|title=Systemax, Inc. - Annual Report|website=syx.client.shareholder.com|access-date=2016-12-11|archive-date=2016-12-20|archive-url=https://web.archive.org/web/20161220200510/http://syx.client.shareholder.com/secfiling.cfm?filingID=1140361-16-58278&CIK=945114|url-status=dead}}</ref>
===Acquisition of CompUSA=== 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.<ref>{{cite web |url=http://news.compusa.com/press-releases/systemax-announces-definitive-agreement-to-acquire-selected-assets-and-retail-stores-from-compusa/ |title=Systemax Announces Definitive Agreement to Acquire Selected Assets and Retail Stores from CompUSA |date=6 January 2008 |publisher=Systemax |accessdate=16 December 2009 |archive-date=29 September 2010 |archive-url=https://web.archive.org/web/20100929143026/http://news.compusa.com/press-releases/systemax-announces-definitive-agreement-to-acquire-selected-assets-and-retail-stores-from-compusa/ |url-status=dead }}</ref> The first new CompUSA store under Systemax ownership was opened in November 2009.
===Acquisition of Circuit City trademarks and website=== 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.<ref>{{cite web |url=http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=376853 |title=Systemax Inc. Signs Stalking Horse Purchase Agreement for Circuit City E-Commerce Business (NYSE:SYX) |website=Syx.client.shareholder.com |date=2009-04-13 |accessdate=2016-04-28 |archive-date=2017-12-05 |archive-url=https://web.archive.org/web/20171205155340/http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=376853 |url-status=dead }}</ref> 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,<ref name="Consolidation">{{cite web|url=http://www.twice.com/articletype/news/systemax-cut-circuit-city-compusa-brands-exit-pc-manufacturing/103788|title=Systemax to Cut Circuit City, CompUSA Brands, Exit PC Manufacturing|archive-url=https://web.archive.org/web/20131105061817/http://www.twice.com/articletype/news/systemax-cut-circuit-city-compusa-brands-exit-pc-manufacturing/103788|archive-date=November 5, 2013|url-status=dead|access-date=November 5, 2013}}</ref> which Systemax sold to PCM, Inc. on December 1, 2015.<ref name=":0">{{Cite news|url=http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=945010|title=Systemax Closes on Transaction to Divest Certain Assets of North American Technology Group to PCM|access-date=2016-12-11|archive-date=2017-07-17|archive-url=https://web.archive.org/web/20170717150557/http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=945010|url-status=dead}}</ref>
=== Acquisition of WStore Europe === 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).<ref>{{Cite news|url=http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=410103|title=Systemax Completes Acquisition of European Business IT Supplier|access-date=2016-12-11|archive-date=2016-12-20|archive-url=https://web.archive.org/web/20161220200527/http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=410103|url-status=dead}}</ref>
=== Acquisition of Misco Solutions (SCC Netherlands) === 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.<ref>{{Cite news|url=http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=854510|title=Systemax Completes Acquisition of Business-to-Business IT Supplier SCC Services B.V.|access-date=2016-12-11|archive-date=2016-12-20|archive-url=https://web.archive.org/web/20161220200530/http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=854510|url-status=dead}}</ref>
=== Acquisition of Plant Equipment Group (“PEG”) === 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.<ref>{{Cite news|url=http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=893913|title=Systemax's Global Industrial Business Completes Acquisition of North American Business-to-Business MRO Supplier|access-date=2016-12-11|archive-date=2016-12-20|archive-url=https://web.archive.org/web/20161220200522/http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=893913|url-status=dead}}</ref>
=== Sale of TigerDirect === 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.<ref>{{Cite news|url=http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=945010|title=Systemax Closes on Transaction to Divest Certain Assets of North American Technology Group to PCM|access-date=2016-12-20|archive-date=2017-07-17|archive-url=https://web.archive.org/web/20170717150557/http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=945010|url-status=dead}}</ref>
=== Sale of German Operations to CANCOM SE === On July 25, 2016, Systemax announced the sale of its Misco Germany assets to CANCOM SE.<ref>{{Cite news|url=http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=980870|title=Systemax Announces Sale Of German Operations To CANCOM SE|access-date=2016-12-20|archive-date=2016-12-21|archive-url=https://web.archive.org/web/20161221093117/http://syx.client.shareholder.com/releasedetail.cfm?ReleaseID=980870|url-status=dead}}</ref>
=== Sale of European Technology Products Group Businesses === On March 27, 2017, Systemax announced the sale of all its European Technology Products Group Businesses, excluding their operations in France.<ref>{{Cite press release|url=https://www.prnewswire.com/news-releases/systemax-further-streamlines-operations-to-increase-focus-on-its-profitable-north-american-industrial-products-and-france-it-businesses-300429470.html|title=Systemax Further Streamlines Operations To Increase Focus On Its Profitable North American Industrial Products And France IT Businesses | date=2017-03-27 | access-date=2021-08-23| publisher=PR Newswire}}</ref>
'''<big>Sale of French-based Information Technology Business</big>'''
On September 4, 2018, Systemax announced it has closed the previously announced sale of its France-based IT business to Bechtle AG.<ref>{{Cite press release|url=https://www.prnewswire.com/news-releases/systemax-closes-sale-of-france-operations-300705986.html|title=Systemax Closes Sale Of France Operations|last=Inc.|first=Systemax|website=www.prnewswire.com|language=en|access-date=2018-11-13}}</ref>
==Legal disputes== 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.<ref name="SEC">{{cite web | title = SEC Charges Former Systemax Director in Compensation Scheme | publisher = U.S. Securities and Exchange Commission | url = https://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171484792#.Ue1-LI3OshM | accessdate=2013-07-22}}</ref>
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.<ref name="SEC" /><ref>{{cite web | title = Systemax exec resigns, must hand over $11 million | publisher = CNET | url = http://news.cnet.com/8301-13506_3-20061043-17.html | accessdate=2013-07-22}}</ref>
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.<ref name="SEC" />
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.<ref name=wsj-kickbacks>{{cite news|title=Former TigerDirect President Indicted in $230 Million Laundering Scheme|url=https://blogs.wsj.com/riskandcompliance/2013/06/19/former-tigerdirect-president-indicted-in-230-million-laundering-scheme/|accessdate=29 December 2015|work=The Wall Street Journal}}</ref><ref name=sfbj-formertiger>{{cite web|title=Former TigerDirect executives plead guilty to fraud|url=http://www.bizjournals.com/southflorida/news/2014/12/03/former-tigerdirect-executives-plead-guilty-to.html|website=South Florida Business Journal|accessdate=29 December 2015}}</ref>
==Restatement== 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.<ref>{{cite web|author=Joseph F. Kovar |url=http://www.crn.com/news/channel-programs/60402732/systemax-to-restate-earnings.htm |title=Systemax To Restate Earnings - Page: 1 |website=CRN.com |date=22 February 2005 |accessdate=2016-04-28}}</ref> 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.<ref>{{cite web|url=http://www.businesswire.com/news/home/20050511005549/en/Systemax-Announces-Intent-Restate-2004-Results|title=Systemax Announces Intent to Restate 2004 Results|website=Businesswire.com|accessdate=2016-04-28}}</ref>
== Global Industrial == {{Infobox company | name = Global Industrial | type = Subsidiary | traded_as = {{NYSE|GIC}} | founded = {{start date and age|1949}}, in New York City, New York, US | founder = {{ubl|Michael Leeds|Paul Leeds}} | hq_location = Port Washington, New York | key_people = | products = {{ubl|Industrial supplies,|office supplies, electrical supplies and equipment, plumbing supplies and hardware, HVAC supplies and parts, storage equipment, safety equipment}} | parent = Global Industrial Company | website = {{url|http://globalindustrial.com}} }} '''Global Industrial''' is a business unit of Global Industrial Company, a Fortune 1000 company, and is listed on the New York Stock Exchange. Global Industrial is incorporated in New York as '''Global Equipment Company Inc.''',<ref name="global_aboutus">{{cite web |url=https://www.globalindustrial.com/aboutUs|title=About Us|publisher=Global Industrial|accessdate=December 2, 2014}}</ref> and conducts business under the names Global Industrial, '''Global Industrial Equipment''', '''Globalindustrial.ca'''<ref name="CanadianExpansion">{{cite web |url=https://www.internetretailer.com/2011/06/02/systemax-subsidiary-beefs-its-canadian-web-site|title=International Marketing - Systemax subsidiary beefs up its Canadian industrial products web site|date=June 2, 2011|accessdate=December 2, 2014|work=Internet Retailer}}</ref> and '''GlobalIndustrial.com'''. The company sells industrial products and office supplies through direct to business channels with headquarters in Port Washington, New York.
== History == Global Industrial was established in 1949 by Michael and Paul Leeds in Queens, New York as a material handling equipment supplier.<ref name="systemax_aboutus">{{cite web |url=http://www.systemax.com/about_us.html|title=About Us|publisher=Systemax|access-date=2014-10-06|archive-url=https://web.archive.org/web/20141209153350/http://www.systemax.com/about_us.html|archive-date=2014-12-09|url-status=dead}}</ref> In 1985 the company began to deal with computer products. Through acquisitions of other computer-supply companies, the company expanded across the U.S. and into parts of Europe, with a revenue of nearly $180 million by 1990.<ref name="NYT2004">{{cite web |url=https://www.nytimes.com/2004/07/18/nyregion/systemax-rides-an-online-sales-wave.html|title=Systemax Rides an Online Sales Wave|date=July 18, 2004|work=The New York Times|accessdate=December 2, 2014}}</ref>
According to the company website,<ref name="global_aboutus2">{{cite web |url=https://www.globalindustrial.com/aboutUs|title=About Us|publisher=Global Industrial|accessdate=December 2, 2014}}</ref> it sells over 1,000,000 products via online sales and call center.<ref>{{cite web|url=http://www.grabe.com.br/|title=Industrial Equipment Supply|accessdate=12 July 2015}}</ref>
Global Industrial has been accredited by the Better Business Bureau since June 2002.<ref name="BBB">{{cite web |url=http://www.bbb.org/new-york-city/business-reviews/computers-supplies-and-parts/systemax-inc-in-port-washington-ny-18598|title=Systemax Inc. Review - COMPUTERS-SUPPLIES & PARTS in Port Washington, NY|publisher=Better Business Bureau|accessdate=December 2, 2014}}</ref>
Global Industrial was ranked number 21 on Modern Distribution Management's Top 40 Industrial Distributors in 2017.<ref name="MDMB">{{cite web |url=https://www.mdm.com/2017-top-industrial-distributors|title=The 2017 List of Top Industrial Distributors|publisher=Modern Distribution Management|accessdate=October 31, 2017|archive-date=September 17, 2019|archive-url=https://web.archive.org/web/20190917105312/https://www.mdm.com/2017-top-industrial-distributors|url-status=dead}}</ref>
==See also== *TigerDirect *CompUSA *Circuit City *Misco *Global Industrial
==References== {{Reflist}}
==External links==
* {{official website|globalindustrial.com}} * [http://www.globalindustrial.com/ Global Industrial] * [https://www.globalindustrial.ca/ Global Industrial Canada] {{Authority control}}
Category:Companies listed on the New York Stock Exchange Category:Business services companies established in 1949 Category:Industrial supply companies Category:Companies based in Nassau County, New York Category:1949 establishments in New York (state) Category:Retail companies of the United States