MSC Industrial Direct Signs Definitive Agreement to Acquire ATS Industrial Supply; Terms Not Disclosed

MSC Industrial Direct Co

announced today that it has signed a definitive agreement to acquire the assets and assume certain liabilities of ATS Industrial Supply, Inc. Terms of the transaction were not disclosed. The acquisition is expected to close on January 31, 2012, subject to the satisfaction of customary closing conditions. The Company will finance the acquisition using available cash. The Company also expects that the acquisition will be minimally dilutive by approximately $0.01 or $0.02 per share in fiscal 2012 including integration and acquisition expenses, and will be $0.02-$0.03 per share accretive to earnings in fiscal 2013 and increase further over time. Established in 1970 and headquartered in Salt Lake City, UT, ATS Industrial Supply, Inc. is a leading metalworking and MRO industrial distributor in the Rocky Mountain region with over 40 years' experience distributing a broad range of industrial tools, cutting tools, abrasives, machinery, precision instrument supplies, and other MRO-related supplies to a large customer base ranging from small machine shops and fabricators to some of the largest aerospace and manufacturing concerns in the country. ATS Industrial Supply, Inc. serves its customers from locations in Salt Lake City, UT, Phoenix, AZ, and Tijuana, BC, Mexico. The company generated approximately $34.5 million in sales in 2011.