Essendant Co., a subsidiary of Essendant Inc. (NASDAQ: ESND), Deerfield, IL, has agreed to acquire Nestor Sales LLC, Largo, FL, a wholesaler and distributor of tools, equipment and supplies to the transportation industry, for $38.5 million.
Nestor, with 2014 sales of $70 million, offers more than 24,000 branded and private label products from 10 distribution centers across the United States.
"Nestor accelerates our growth in the automotive aftermarket and complements our MEDCO and overall industrial business while also providing access to new customer segments," said Robert B. Aiken, Jr., interim president and CEO of Essendant.
