WW Grainger to buy Techni-Tool, no terms
WW Grainger reaches deal to buy manufacturing distributor Techni-Tool for undisclosed sum
CHICAGO (AP) -- W.W. Grainger Inc., which sells power tools, maintenance supplies and other industrial equipment, said Monday that it plans to buy manufacturing distributor Techni-Tool Inc. to boost growth.
Financial terms were not disclosed.
Techni-Tool, which is based in Worcester, Pa., supplies manufacturers in the electronics, telecommunications and medical services industries, Grainger said. It posted $88 million in 2011 sales.
The deal is set to close by Dec. 31 and isn't expected to affect Grainger's 2013 earnings per share.
Shares of Chicago-based Grainger rose 76 cents to $191.02 in morning trading.
