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Lawson Products, Inc. (NASDAQ: LAWS), Des Plaines, IL, No. 21 on MDM's list of the top 40 industrial distributors, a distributor of maintenance, repair and operations (MRO) products, has agreed to sell Rutland Tool & Supply Co., a subsidiary, to Sid Tool Co. Inc., a subsidiary of MSC Industrial Direct Co. for $11 million in cash plus the assumption of liabilities.
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MSC Industrial Direct is No. 13 on MDM's list of the top 40 industrial distributors.
Whittier, CA-based Rutland is an industrial supplier providing metalworking and maintenance products.
In a press release, Lawson Products said that the sale of Rutland – which it announced it was buying from Airgas in 2005 - aligns with the company's strategy to focus on its Lawson MRO business, its most profitable and fastest-growing segment.
Lawson said it will continue to offer its full line of MRO products, including Rutland products, to its customers.
"The sale of Rutland will provide us with valuable resources to further invest in and grow our core MRO business," said Tom Neri, president and CEO of Lawson Products. "Through this sale, as well as through the recent sale of Assembly Component Systems, Inc., we are successfully positioning Lawson for profitable growth and ensuring our strong competitive position for the future."