(NYSE: GWW), No. 2 on MDM's list of the top 40 industrial distributors
, has agreed to acquire Techni-Tool Inc. and its affiliate Wassco Inc. The distributors had 2011 sales of $88 million. Terms were not disclosed.
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Based in Worcester, PA, Techni-Tool, along with Wassco, employs 200 people and provides nearly 25,000 products and related services to manufacturers in the electronics, telecommunications and medical services industries.
"Acquisitions like Techni-Tool play a key role in supplementing our organic growth strategies," Court Carruthers, Grainger U.S. president, said.
Grainger expects the transaction to close by December 31.
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