Inside Long Island Business
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MSC Industrial Direct to buy distribution business
Photo credit: Newsday / J. Conrad Williams Jr.
MSC Industrial Direct Co., the Melville-based distributor of industrial supplies and one of the largest public companies on Long Island, said Friday it will acquire the North America distribution business of the Barnes Group in a $550 million deal.
MSC, which is the area's seventh biggest public company by revenue, will finance the deal with available cash and a loan under a new line of credit,...
