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Industrial distributor Grainger, Chicago, IL, announced its Lab Safety Supply subsidiary has agreed to acquire Professional Inspection Equipment Inc. and Construction Book Express Inc, both companies operating from the same address in Hauppage, NY. The businesses are direct marketers of tools, instruments and reference materials to the $2.5 billion building and home inspection market.
"Our strategy is to accelerate LSS's growth by finding premier direct marketing companies that complement the company's targeted catalog approach," said Grainger's Chairman and CEO Richard L. Keyser. "This acquisition will enable LSS to further diversify its customer base into the services sector."
Professional Inspection Equipment and Construction Book Express will be marketed as independent brands by LSS, a direct marketer of targeted, specialty businesses in the safety, industrial, environmental and homeland security markets. Through a similar direct marketing model, Professional Inspection Equipment and Construction Book Express serve over 85,000 active customers including inspectors, designers, architects, engineers and electricians. The companies had annual sales in 2006 of more than $20 million.
W.W. Grainger, Inc., with 2005 sales of $5.5 billion, is a broad line supplier of facilities maintenance products serving businesses and institutions in Canada, China, Mexico and the United States.
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