- MSC Industrial Direct Co Inc. MSM has acquired Engman-Taylor, a Menomonee Falls, Wisconsin-based distributor of metalworking tools and supplies. Financial terms were not disclosed.
- MSC Industrial expects the acquisition to be roughly neutral to its FY22 earnings and slightly accretive to FY23 earnings.
- Engman-Taylor will continue to do business under its current name after the acquisition is completed. The company's president and owner, Rick Star, will continue to lead the ~90-associate business.
- Engman-Taylor serves customers from two locations in Wisconsin, two in Illinois, and one in North Carolina.
- MSC Industrial held cash and equivalents of $41.75 million as of February 26, 2022.
- Price Action: MSM shares are trading lower by 0.95% at $84.25 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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