March 25, 2006

MSC to Buy Kennametal's J&L Unit for $349 Million

MSC Industrial Direct Co., Inc., Melville, NY, will pay $349.5 million in cash, or 11.3X EBITDA, for Kennametal's J&L Industrial Supply business. The deal completes Kennametal's planned exit from owned distribution businesses, which had created consistent channel management issues for the increasingly diversified cutting tool manufacturer.

Subscribers: click here for the full story

Non-Subscribers: click here to subscribe

Purchase Entire Issue (PDF Format)