Systemax Inc. (NYSE: SYX) today announced it has closed the previously announced sale of its France-based IT business to Bechtle AG. The sale was denominated on a cash-free, debt-free basis and included normalized working capital adjustments. Total cash provided from the sale, before tax and transaction expenses but inclusive of cash on hand in France, was approximately $270 million at current exchange rates.

With the completion of the sale, Systemax currently operates its Industrial Products Group ("IPG") business in North America, which is focused on industrial supplies and MRO (maintenance, repair, and operations), markets the Company has served since 1949. IPG sells private-label and brand-name industrial equipment and supplies to businesses throughout North America, primarily under the names Global Industrial in the U.S and Global Industrial CA / Avenue in Canada. IPG offers over 1 million products that are primarily sold through its websites and corporate sales force. It is a highly successful and rapidly growing business that generated approximately $800 million in revenue in 2017 and grew its revenue at a CAGR of 13.7% from 2012 through 2017.

About Systemax Inc. Systemax Inc. (www.systemax.com), through its operating subsidiaries, is a provider of industrial products in North America, going to market through a system of branded e-Commerce websites and relationship marketers. The Company's primary brand is Global Industrial (www.globalindustrial.com).