LI industrial supplier buys 2 Massachusetts firms
David Sandler, chief executive of MSC Industrial Direct Co. of Melville with the company's supply catalog, affectionately referred to as The Big Book. (January 2010) Credit: John Dunn, 2010
In a bid to expand its New England sales, Melville-based MSC Industrial Direct Co. has bought two Massachusetts companies.
MSC did not say how much it will pay for American Tool Supply and its affiliate American Specialty Grinding Co., both of Chicopee, Mass.
The two acquired companies together generate about $50 million in annual revenue and, once MSC takes possession of them, it expects them to add about $0.02 to $0.03 to MSC's earnings per share in 2012.
"As New England is an important market for MSC, this acquisition is a strategic effort to expand their presence in the region," the Melville company said.
"The partnership will expand MSC’s national footprint, while simultaneously growing the local expertise and relationships that [the two companies] have successfully built over the years in the area," MSC said.
Photo: David Sandler, chief executive of MSC Industrial Direct Co. of Melville, with the company's supply catalog, affectionately referred to as The Big Book.
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