Home » Precision Industries acquires McGraw Group assets
Precision Industries acquires McGraw Group assets
December 10, 2001
Precision Industries, Omaha, NE, has acquired certain assets of The McGraw Group, a distributor of hydraulic and pneumatic components, machine tools, power transmission supplies, cutting tools, MRO supplies and material handling products, located in the Southeastern part of the United States.
Through a network of branches in Charlotte, Greensboro, Greenville, and Lenoir, NC, the McGraw Group has provided products and technical advice and consultation regarding products and applications for more than 130 years.
'We bought a portion of McGraw's assets and we hired some of their best people,' said Dennis P. Circo, Precision CEO and chairman of the board. 'We're primarily staying in the bearing, power transmission and fluid power business. We will also be manufacturing fluid power units and building electrical panels. We'll have a very substantial facility in Greensboro, NC, with more than 20,000 square feet, which will serve as a regional distribution center.'
Circo added that Precision continues to actively seek 'strategic acquisitions throughout North America.'
Precision Industries has focused on integrated supply, procurement services and e-Commerce business-to-business strategic sourcing initiatives. Precision also has a nationwide branch distribution network of 100 locations for the following indirect products: power transmission; bearings; electrical; rubber products; material handling; lubrication; fasteners, tools and safety; and hydraulics and pneumatics.