Indianapolis, IN – June 18, 2019— The Board of Directors of Independent Suppliers Group is pleased to announce that 83% of its Common shareholders have approved mergers with Pinnacle Affiliates and TriMega Purchasing Association and, we’ve been informed, 100% of the members of Pinnacle Affiliates have approved a merger with Independent Suppliers Group; as well the members of TriMega Purchasing Association have approved a merger with Independent Suppliers Group.
Jordan Kudler, Vice Chairman of ISG says, “I was involved in 2008 when ISG and Pinnacle formed our relationship, and it’s rewarding to see the synergy created by that successful model continue into this new endeavor with all three groups. Throughout this process the steering committee has been focused on creating a group where ‘no dealer is left behind’ and we believe we have achieved that.”
David Guernsey, one of the founders of Pinnacle Affiliates, agrees saying, “We know that a model that brings dealers of all sizes together works to the benefit of all dealers. Transparency, open governance, and providing a low-cost operating model have been historical pillars of Pinnacle Affiliates, and we look forward to continuing that work together with ISG and TriMega in this new group.”
The merger is expected to become effective on July 1, 2019. Independent Suppliers Group will be the surviving entity, and the headquarters of the new organization will be Rosemont, IL.