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Melville tool company in $11M deal


Tools Credit:

Melville-based MSC Industrial Direct Co. Inc. has completed an $11 million acquisition of a tool supply company based in Whittier, Calif., the company announced Monday morning.

MSC is acquiring Rutland Tool & Supply Co., a subsidiary of Lawson Products Inc., for about $11 million in cash plus the assumption of certain liabilities.

Rutland, founded in 1955, had sales of $33.7 million in 2009 and serves more than 20,000 customers.

MSC expects the acquisition to add to its earnings in late fiscal 2011 or early fiscal 2012.

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