Grainger Announces Intent To Acquire Techni-Tool, Inc.
CHICAGO, Dec. 17, 2012
CHICAGO, Dec. 17, 2012 /PRNewswire/ -- Grainger (NYSE: GWW), the leading broad
line supplier of maintenance, repair and operating products serving businesses
and institutions, today announced its intent to acquire Techni-Tool, Inc., and
its affiliate Wassco Inc., leading specialist distributors serving
manufacturing customers with 2011 sales of $88 million. Grainger expects the
transaction to close by December 31, 2012, subject to standard conditions, and
be neutral to 2013 earnings per share. Terms of the agreement were not
Founded in 1959 and based in Worcester, Pa., Techni-Tool, along with Wassco,
employs approximately 200 people and provides nearly 25,000 products and
related services to manufacturers in the electronics, telecommunications and
medical services industries.
"This acquisition brings together two great companies with a strong passion
for customer service and helps provide manufacturing customers with more of
the products, services, solutions and technical expertise they need to keep
their facilities running and their employees safe. Acquisitions like
Techni-Tool play a key role in supplementing our organic growth strategies,"
said Court Carruthers, Senior Vice President and President, Grainger U.S.
W.W. Grainger, Inc. with 2011 sales of $8.1 billion is North America's leading
broad line supplier of maintenance, repair and operating products, with
expanding global operations. Visit www.grainger.com/investor for more
information about the company.
SOURCE W.W. Grainger, Inc.
Contact: Media - Joe Micucci, Director, Media Relations, O: +1-847-535-0879,
M: +1-847-830-5328, or Grainger Media Relations Hotline, +1-847-535-5678;
Investors - Laura Brown, SVP, Communications & Investor Relations, O:
+1-847-535-0409, M: +1-847-804-1383, or William Chapman, Sr. Director,
Investor Relations, O: +1-847-535-0881, M: +1-847-456-8647
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