MSC Industrial to buy Barnes Group' distribution business for $550 mn

MSC Industrial Direct Co Inc, one of the world's largest industrial equipment distributors, today said it would buy the North American distribution business (BDNA) of Barnes Group Inc, for $550 million.

The deal will give MSC Industrial access to the metalworking and maintenance, repair and operations market in Canada, generate synergies of $15-$20 million by 2015, and accomplish its goal of achieving revenues of $4 billion by 2016.

With this acquisition, the New York-based company said that BDNA will add a highly complementary provider of fasteners and other high margin consumable products and services.

Headquartered in Ohio, BDNA is a leading distributor of fasteners and other high-margin, low-cost consumables with a wide distribution network throughout the US and Canada.

BDNA customers are across manufacturing, government, transportation and natural resources end-markets.

It services around 31,000 customers and offers more than 55,000 products. BDNA had sales of around $300 million in 2012.