(By Balaseshan) W.W. Grainger Inc. (NYSE: GWW), a distributor of maintenance, repair and operating supplies, said it plans to buy Techni-Tool Inc. and its affiliate Wassco Inc. for an undisclosed sum.
Grainger expects the transaction to be neutral to 2013 earnings per share. Techni-Tool and its affiliate Wassco are specialist distributors serving manufacturing customers with 2011 sales of $88 million.
"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," said Court Carruthers, Senior Vice President and President, Grainger U.S.
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Founded in 1959 and based in Worcester, Pennsylvania, Techni-Tool, along with Wassco, employs about 200 people and provides nearly 25,000 products and related services to manufacturers in the electronics, telecommunications and medical services industries. Grainger expects the transaction to close by December 31, 2012.
Grainger, with 2011 sales of $8.1 billion, uses a multichannel business model to provide customers with a range of options for finding and purchasing products utilizing sales representatives, direct marketing materials, catalogs and eCommerce.
The company serves about 2.0 million customers worldwide through a network of integrated branches, distribution centers, multiple websites and export services. Grainger's two segments are the United States and Canada. Other businesses include: the Fabory Group, MonotaRO, Mexico, China and Colombia.