MELVILLE, N.Y. and DAVIDSON, N.C., June 25,
2024 /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
ApTex, Inc. and Premier Tool Grinding, Inc.
Under the purchase agreements, both companies will continue to
operate under their current names as MSC companies. Combined, the
two companies had estimated revenues of slightly over $20 million in 2023 and have 58 associates. Both
acquisitions are expected to be net neutral to MSC's fiscal year
2024 net income.
ApTex, based in Waukesha,
Wisconsin, is a production-oriented industrial distributor
with a focus on cutting tools, abrasives, metalworking fluids, as
well as workholding systems and components. ApTex is a highly
technical metalworking distributor with a focus on value-added
services and solutions to drive cost savings through every step of
the customers' production process.
Premier Tool Grinding designs, manufactures,
reconditions, and coats carbide cutting tools. Located in
Goodyear, Arizona, the company has
made significant strides over the years, transitioning from manual
grinding machines in its early beginning in 1991 to a fully
automated shop equipped with CNC machines and state-of-the-art PVD
coating machines.
MSC President and Chief Executive Officer Erik Gershwind said, "We are thrilled to welcome
ApTex and Premier Tool Grinding into the MSC family. 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."
Dean Meier, President of ApTex,
said, "As we join the MSC family, we look forward to combining our
technical expertise and solution-driven approach with MSC's
expanded product offering to drive further cost savings for
customers."
"Joining forces with MSC represents a significant milestone for
us. It's an opportunity to leverage our innovative spirit and
technical prowess on a larger scale. We are excited to contribute
to MSC's legacy of excellence and to continue delivering
unparalleled solutions to our customers," said Shaun Schilling, Co-Owner of Premier Tool
Grinding.
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.
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SOURCE MSC Industrial Supply Co.
