US-based industrial metalworking tools distributor MSC Industrial Supply has acquired ApTex, a Wisconsin-based cutting tools industrial distributor and Premier Tool Grinding, an Arizona-based manufacturer of carbide cutting tools.
Both companies will continue to operate under their current names as MSC Companies. ApTex and Premier Tool Grinding have a combined revenue over $20m in 2023.
Both acquisitions are expected to be net neutral to MSC's fiscal year 2024 net income.
Erik Gershwind, President and Chief Executive Officer at MSC said: "We are thrilled to welcome ApTex and Premier Tool Grinding into the MSC family. ApTex will strengthen our position to gain share in the surrounding Wisconsin area by combining ApTex's deep technical expertise with MSC's best-in-class metalworking offering.
He continues: "Premier Tool Grinding will bolster MSC's specialty tooling and regrinding service offering that was recently enhanced through the acquisition of Tru-Edge and expands our reach to western parts of the US."
