Purchase of Ontario-based Canadian Company Supports the
Growth of MSC's Metalworking Presence in Canada
MELVILLE, N.Y. and DAVIDSON, N.C.,
Jan. 22,
2024 /PRNewswire/ -- MSC INDUSTRIAL SUPPLY CO.
(NYSE: MSM), a premier distributor of Metalworking and
Maintenance, Repair and Operations (MRO) products and services to
industrial customers throughout North America, today announced
that it has acquired KAR Industrial Inc. (KAR), a metalworking
distributor supplying measuring and cutting tools, machine tool
accessories and other manufacturing related supplies across
Canada's industrial landscape.
KAR will continue to operate under its current names, including
its Duramill and Omnitool divisions, as an MSC company.
Ward Meek, President of KAR, will
continue to manage the daily operations. KAR was founded in 1954 in
Montreal, Canada and has a deep
history in the Canadian market. KAR operates three facilities in
Mississauga, Montreal, and Edmonton for total country coverage. It has
estimated revenues of US$16M in 2023
and has a total of 45 associates across Canada.
MSC plans to build on KAR's metalworking technical expertise,
knowledge of the Canadian market and value-added services by
offering KAR's customers access to MSC's 2.4 million-plus
product portfolio to support their full metalworking and MRO needs,
as well as by providing an E-commerce sales channel through
mscdirect.com.
MSC President and Chief Executive Officer Erik Gershwind said, "The addition of KAR
Industrial Inc. expands our metalworking footprint in Canada. Their expertise in metalworking and
industrial distribution aligns well with our commitment to helping
customers solve their mission-critical challenges and improve the
productivity of their operations."
"MSC is an industry leader in metalworking with a strong
heritage of supporting customers in this space. We are looking
forward to combining our metalworking expertise with MSC's to bring
even greater value and success to manufacturing customers," said
Ward Meek, President of KAR.
About MSC Industrial Supply Co.
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American
distributor of a broad range of metalworking and maintenance,
repair and operations (MRO) products and services. We help our
customers drive greater productivity, profitability and growth with
approximately 2.4 million products, inventory management and other
supply chain solutions, and deep expertise from more than 80 years
of working with customers across industries. Our experienced team
of more than 7,000 associates works with our customers to
help drive results for their businesses - from keeping
operations running efficiently today to continuously rethinking,
retooling, and optimizing for a more productive tomorrow. For more
information on MSC Industrial, please visit mscdirect.com.
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SOURCE MSC Industrial Supply Co.