Purchase of Ontario-based Canadian Company Supports the Growth of MSC's Metalworking Presence in Canada
MELVILLE, N.Y. and DAVIDSON, N.C., Jan. 22, 2024 /PRNewswire/ -- MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM), a premier distributor of Metalworking and Maintenance, Repair and Operations (MRO) products and services to industrial customers throughout North America, today announced that it has acquired KAR Industrial Inc. (KAR), a metalworking distributor supplying measuring and cutting tools, machine tool accessories and other manufacturing related supplies across Canada's industrial landscape.
KAR will continue to operate under its current names, including its Duramill and Omnitool divisions, as an MSC company. Ward Meek, President of KAR, will continue to manage the daily operations. KAR was founded in 1954 in Montreal, Canada and has a deep history in the Canadian market. KAR operates three facilities in Mississauga, Montreal, and Edmonton for total country coverage. It has estimated revenues of US$16M in 2023 and has a total of 45 associates across Canada.
MSC plans to build on KAR's metalworking technical expertise, knowledge of the Canadian market and value-added services by offering KAR's customers access to MSC's 2.4 million-plus product portfolio to support their full metalworking and MRO needs, as well as by providing an E-commerce sales channel through mscdirect.com.
MSC President and Chief Executive Officer Erik Gershwind said, "The addition of KAR Industrial Inc. expands our metalworking footprint in Canada. Their expertise in metalworking and industrial distribution aligns well with our commitment to helping customers solve their mission-critical challenges and improve the productivity of their operations."
"MSC is an industry leader in metalworking with a strong heritage of supporting customers in this space. We are looking forward to combining our metalworking expertise with MSC's to bring even greater value and success to manufacturing customers," said Ward Meek, President of KAR.
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 2.4 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 more than 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.