MSC Industrial Supply Acquires Engman-Taylor To Enhance Position In Metalworking

June 3, 2022 11:14 AM | 1 min read | Make a Comment

MSC Industrial Direct Co Inc. MSM has acquired Engman-Taylor, a Menomonee Falls, Wisconsin-based distributor of metalworking tools and supplies. Financial terms were not disclosed.
MSC Industrial expects the acquisition to be roughly neutral to its FY22 earnings and slightly accretive to FY23 earnings.
Engman-Taylor will continue to do business under its current name after the acquisition is completed. The company's president and owner, Rick Star, will continue to lead the ~90-associate business.
Engman-Taylor serves customers from two locations in Wisconsin, two in Illinois, and one in North Carolina.
MSC Industrial held cash and equivalents of $41.75 million as of February 26, 2022.
Price Action: MSM shares are trading lower by 0.95% at $84.25 on the last check Friday.

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