MSC Industrial Supply on Tuesday announced a pair of acquisitions that the company said would bolster both its footprint and its value proposition.
The metalworking and MRO distributor added ApTex, a suburban Milwaukee distributor of cutting tools, abrasives and other industrial products, and Premier Tool Grinding, a designer and manufacturer of carbide cutting tools based near Phoenix.
Terms of the deals were not disclosed. MSC officials said that the new companies are expected to be “net neutral” to the company’s full-year net income.
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"We are thrilled to welcome ApTex and Premier Tool Grinding into the MSC family,” MSC President and CEO Erik Gershwind said in the announcement. “ApTex will strengthen our position to gain share in the surrounding Wisconsin area by combining ApTex's deep technical expertise with MSC's best-in-class metalworking offering.
"Additionally, Premier Tool Grinding will bolster MSC's specialty tooling and regrinding service offering that was recently enhanced through the acquisition of Tru-Edge and expands our reach to western parts of the U.S."
MSC said that the companies’ combined 2023 revenues amounted to just more than $20 million. The acquisitions will add 58 employees to MSC’s workforce. Both companies will retain their current names as MSC companies.
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