MSC Industrial Direct Co., Inc. (NYSE : MSM) acquired Kar Industrial Inc. for $9 million.
January 21, 2024
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MSC Industrial Direct Co., Inc. (NYSE : MSM) acquired Kar Industrial Inc. on January 22, 2024. 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 Industrial has an estimated revenue of $16 million in 2023 and has a total of 45 associates across Canada.
MSC Industrial Direct Co., Inc. (NYSE : MSM) completed the acquisition of Kar Industrial Inc. for $9 million on January 22, 2024. MSM acquired 100% of the outstanding shares of KAR Industrial Inc., for aggregate consideration of $8.903 million. which includes cash paid of $8.303 million, subject to certain post-closing adjustments, and contingent consideration to be paid out of $0.747 million. Total cash consideration funded by the Company came from available cash resources.
MSC Industrial Direct Co., Inc. is a North American distributor of a range of metalworking and maintenance, repair and operations (MRO) products and services. Its range of MRO products includes cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies. It serves a range of customers throughout the United States, Canada, Mexico, and the United Kingdom, from individual machine shops to manufacturing companies to government agencies, such as the United States General Services Administration and the United States Department of Defense. It operates a network of six customer fulfillment centers, 10 regional inventory centers and 41 warehouses. The Company's customer fulfillment centers have various locations in the United States.
MSC INDUSTRIAL DIRECT CO., INC. 
