Lab Safety Supply acquires Virginia company

Industrial Distribution staff -- Industrial Distribution, 6/1/2007 8:40:00 AM

Lab Safety Supply Inc.has acquired the assets of McFeely's Square Drive Screws, a business-to-business direct marketer of specialty fasteners, hardware and tools for the professional woodworking industry.

LSS, a direct marketer of specialty business products in the safety, industrial, environmental and homeland security markets, is a subsidiary of W. W. Grainger Inc.

Grainger expects the acquisition to be accretive within a year. Terms were not disclosed.

''Acquisitions are an efficient way for LSS to expand its served market, increase revenue and diversify the customer base,'' said Grainger's chairman and CEO Richard Keyser. ''This acquisition will enable LSS to further penetrate the woodworking and construction markets.''

Based in Lynchburg, Va., McFeely's has more than 70,000 customers. Its sales in 2006 were more than $9 million. McFeely’s will be marketed as an independent brand by LSS.

''McFeely's will complement our other brands,'' said Larry Loizzo, president of LSS. ''There is very little overlap in our customer files and we believe McFeely's merchandising approach, using both printed catalogs and the Web, will provide more solutions for our customers.''

Headquartered in Chicago, Grainger is a supplier of facilities maintenance products with locations throughout the United States, Canada, China and Mexico. Grainger ranked 4th on INDUSTRIAL DISTRIBUTION’s 2007 Big 50 list of distributors with 2006 sales of $5.9 billion.

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