Recently acquired Barnes Distribution North America contributed $72 million.
Latest In MSC Industrial Supply Co.
MSC's acquisition of Barnes' North American distribution operations was among the top deals in 2013.
CEO: Company will focus on three key areas to achieve goal by 2016.
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CFO: The Barnes Distribution North America contribution to results exceeded expectations.
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Sales from continuing operations increased 24 percent.
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But executives report some softness in the latest quarter for manufacturing customers.
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The recently acquired Barnes Distribution North America business contributed nearly $35 million to third-quarter sales.
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To satisfy today’s customer, you have to be prepared to do business through all channels.
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But management teams show cautious optimism.
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With the acquisition, MSC adds 1,400 people to the company.
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Sequestration had an impact on market, distributors say.
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Acquisition of BDNA will help keep MSC on its growth track, even with unexpected sluggishness in the overall economy.
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MSC is expanding into product adjacencies with the acquisition of Barnes Distribution North America.
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Topics covered included the MSC-Barnes deal, e-commerce’s role in wholesale distribution and communicating the value you add for customers.
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MSC Industrial Supply stands to benefit on several fronts when the deal to acquire Barnes closes.
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In February, MSC Industrial Direct Co. (NYSE: MSM) announced plans to buy Barnes Distribution North America, which has a footprint throughout the U.S. and Canada. This article takes a look at the impact of the deal, both on the individual companies and on the industrial distribution landscape.
MRO distributor MSC Industrial Direct Co. Inc., Melville, NY, has agreed to acquire the North American distribution business of the Barnes Group Inc., for $550 million. The acquisition, which is expected to close in late March or early April, will add fasteners and other high-margin consumable products and services to MSC’s portfolio. MSC also gains Barnes’ vendor managed inventory solution.
The deal does not include the Associated Spring Raymond portion of Barnes Distribution North America.
The transaction will contribute to MSC’s goal of reaching $4 billion in revenues by 2016, according to MSC President and CEO Erik Gershwind.
Deal Drivers
“Barnes Distribution North America brings to MSC a complete vendor-managed inventory solution, which strengthens MSC’s value proposition to its customer base,” says Tom Lange, managing director and head of Robert W. Baird & Co.’s Distribution Group, which advised Barnes Group on the divestiture.
“Second, Barnes Distribution and MSC have …
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With the acquisition, MSC gains a broader footprint in the U.S. and Canada and access to an established vendor-managed inventory system.
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MSC will pay $550 million to expand its footprint in Canada and the U.S.
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Grainger’s expectations are for single-digit growth in 2013.
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MSC Industrial Supply has low growth expectations for its fiscal-year second quarter, based on recent trends.
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