Purchase of Ohio-based Companies Supports the Growth of MSC's Metalworking Leadership Position
MELVILLE, N.Y. and DAVIDSON, N.C., Jan. 11, 2023 /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 Buckeye Industrial Supply Co., an independent metalworking distributor based in Columbus, Ohio, and Tru-Edge Grinding Inc., a St. Henry, Ohio-based custom tool manufacturer.
Buckeye and Tru-Edge are separate companies with shared ownership. Under the purchase agreement, Buckeye and Tru-Edge will continue to operate under their current names as MSC companies. The two companies had combined estimated revenue of $28 million in 2022 and they have 80 associates.
Founded in 1947, Buckeye primarily serves the planned metalworking needs of large manufacturers. MSC plans to build on Buckeye's technical, high-touch relationships and value-added services by offering customers access to its 2 million-plus product portfolio to support their full metalworking and MRO needs as well as drive eCommerce revenue through mscdirect.com.
Tru-Edge Grinding brings new capabilities in tool manufacturing to MSC. Founded in 1996, Tru-Edge operates a manufacturing/regrind facility in St. Henry, Ohio and an indexable tool repair shop in Dayton, Ohio. A large part of Tru-Edge's business is focused on designing and producing tools from scratch, with a strong focus on the automotive and medical markets. Tru-Edge will serve as MSC's center of excellence for engineering and design and will join forces with MSC's existing regrinding business to support manufacturing customers in the Midwest. Tru-Edge's highly technical, value-added services will support MSC's effort to drive cost savings for customers.
MSC President and Chief Executive Officer Erik Gershwind said the addition of Buckeye and Tru-Edge builds on MSC's acquisitions of Deco Tool Supply, Engman-Taylor Company, Wm. F. Hurst Co. and AIS in recent years to expand the company's reach with manufacturers in the Midwest.
"We are excited to add Buckeye and Tru-Edge to our growing portfolio of businesses as they'll contribute greatly to fortify and expand our position as the leading metalworking supply distributor in North America. Their focus on providing high-touch support to customers aligns well with our commitment to helping customers solve their mission-critical challenges and improve the productivity of their operations," Gershwind said.
Rick Meizlish, a principle of Buckeye and Tru-Edge, said, "MSC is a recognized and respected leader in the industrial supply distribution industry. We are looking forward to combining our metalworking expertise with MSC's to bring even greater value and success to manufacturing customers."
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 2.2 million products, inventory management and other supply chain solutions, and deep expertise from more than 80 years of working with customers across industries. Our experienced team of approximately 7,000 associates works 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 Industrial, please visit mscdirect.com.
SOURCE MSC Industrial Supply Co.