Purchase of Wisconsin-Based Distributor Enhances MSC's Leading Position in Metalworking
MELVILLE, N.Y. and DAVIDSON, N.C., June 3, 2022 /PRNewswire/ -- MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM), a premier distributor of Metalworking and Maintenance, Repair and Operations supplies to industrial customers throughout North America, today announced that it has acquired Engman-Taylor, a Menomonee Falls, Wisc.-based distributor of metalworking tools and supplies.
Under the agreement, Engman-Taylor will continue to do business under its current name after becoming an MSC company. The company's president and owner, Rick Star, will continue to lead the approximately 90-associate business. The acquisition is expected to be roughly neutral to MSC's fiscal 2022 earnings and slightly accretive to fiscal 2023 earnings.
"We are pleased that Engman-Taylor will be joining forces with MSC. Just as our roots go back to metalworking more than 80 years ago, Engman-Taylor brings decades of technical expertise in metalworking. Their team offers a strong fit in terms of skill, capabilities and culture, and their focus on serving customers at a very high level aligns well with our approach to helping customers solve their mission-critical challenges on the plant floor," said MSC President and CEO Erik Gershwind.
Engman-Taylor serves customers from two locations in Wisconsin, two in Illinois and one in North Carolina, complementing MSC's national reach. Engman-Taylor will be able to offer customers access to MSC's 2 million-plus products, inventory management and other supply chain solutions.
"MSC is a recognized and respected leader in the industrial supply distribution industry. The company's strong track record of enabling the companies it acquires to maintain their identities and customer relationships while offering its vast portfolio of products and solutions provides a winning formula for both organizations. Most importantly, it will enable us to bring even greater value to our customers," said Rick Star, President and CEO of Engman-Taylor.
About MSC Industrial Supply Co.
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services. We help our customers drive greater productivity, profitability and growth with approximately 2 million products, inventory management and other supply chain solutions, and deep expertise from over 80 years of working with customers across industries. Our experienced team of more than 6,500 associates is dedicated to working side by side with our customers to help drive results for their businesses - from keeping operations running efficiently today to continuously rethinking, retooling, and optimizing for a more productive tomorrow. For more information on MSC, please visit mscdirect.com.
SOURCE MSC Industrial Supply Co.