Grainger to acquire Techni-Tool
Grainger plans to acquire Techni-Tool Inc., and its affiliate Wassco Inc., specialist distributors serving manufacturing customers with 2011 sales of $88 million.
Grainger expects the transaction to close by Dec.r 31, subject to standard conditions, and be neutral to 2013 earnings per share. Terms of the agreement were not disclosed.
Founded in 1959 and based in Worcester, Pa., Techni-Tool, along with Wassco, employs approximately 200 people and provides nearly 25,000 products and related services to manufacturers in the electronics, telecommunications and medical services industries.
"This acquisition brings together two great companies with a strong passion for customer service and helps provide manufacturing customers with more of the products, services, solutions and technical expertise they need to keep their facilities running and their employees safe. Acquisitions like Techni-Tool play a key role in supplementing our organic growth strategies," said Court Carruthers, senior vice president and president, Grainger U.S.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
