MSC Industrial Supply Co. Acquires Majority Interest In Wm. F. Hurst Co., LLC
On June 1, 2021, MSC Industrial Supply Co. (NYSE: MSM) announced the acquisition of a majority interest in Wm. F. Hurst Co., LLC, a Wichita-based distributor specializing in metalworking tools for the aerospace industry. The acquisition aims to enhance MSC's position in metalworking and expand its reach within the aerospace sector. Wm. F. Hurst will retain its branding and leadership under John Mullen. No financial details were disclosed, but the agreement will allow for the integration of MSC's extensive product range and supply chain solutions.
- Acquisition expands MSC's leadership in metalworking and aerospace sectors.
- Wm. F. Hurst gains access to MSC's 1.9 million products and supply chain solutions.
- Strategic alignment in expertise and customer focus enhances growth opportunities.
- None.
MELVILLE, N.Y. and DAVIDSON, N.C., June 1, 2021 /PRNewswire/ -- MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM), a premier distributor of Metalworking and Maintenance, Repair and Operations (MRO) products and services to industrial customers throughout North America, has acquired a majority interest in Wm. F. Hurst Co., LLC, a Wichita, Kansas-based distributor of metalworking tools and supplies with deep expertise and customer relationships in the aerospace industry.
Under the agreement, Wm. F. Hurst will continue to go to market under its current name as an MSC company. The company's president and owner, John Mullen, will continue to lead the business and hold a minority interest. Financial terms of the transaction were not disclosed.
Wm. F. Hurst Co. serves customers from offices in Wichita, Kansas, Kansas City, Missouri and Dallas, Texas. The acquisition enhances MSC's leadership position in metalworking and expands the company's presence in the aerospace industry. It also allows Wm. F. Hurst to offer their customers access to MSC's 1.9 million-plus products, inventory management and other supply chain solutions and to expand the company's reach across MSC's national footprint.
"One of our most important growth drivers is building on our leadership position in metalworking. This acquisition will contribute to the growth of our metalworking base and serve as a center of excellence for expanding our technical capabilities in the aerospace sector. The Wm. F. Hurst team focuses on solution selling to solve technical challenges for aerospace customers, which aligns well with our approach to helping customers solve their mission-critical challenges on the plant floor. We believe our companies are a strong match in terms of expertise, capabilities, customer focus and culture, and we are delighted to bring the Wm. F. Hurst team aboard as an important part of our growth plan," said MSC President and CEO Erik Gershwind.
"We are pleased to be joining forces with MSC, a respected leader in metalworking and MRO products and solutions for 80 years. We see a strong growth opportunity to build our business by combining our technical expertise to deliver customized solutions to Wm. F. Hurst and MSC customers," said John Mullen, President and CEO of Wm. F. Hurst Co. "We look forward to extending MSC's vast MRO and metalworking products and solutions portfolio to provide even more solutions to our customers."
About MSC
About MSC Industrial Supply Co. MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. We help our customers drive greater productivity, profitability and growth with approximately 1.9 million products, inventory management and other supply chain solutions, and deep expertise from over 75 years of working with customers across industries. Our experienced team of more than 6,200 associates is dedicated to working side by side with our customers to help drive results for their businesses - from keeping operations running efficiently today to continuously rethinking, retooling, and optimizing for a more productive tomorrow. For more information on MSC, please visit mscdirect.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/msc-industrial-supply-co-acquires-majority-interest-in-wm-f-hurst-co-llc-301303304.html
SOURCE MSC Industrial Supply Co.
FAQ
What is the significance of MSC's acquisition of Wm. F. Hurst Co.?
When was the acquisition of Wm. F. Hurst Co. completed?
How will Wm. F. Hurst Co. operate after the acquisition?
What benefits does MSC gain from acquiring Wm. F. Hurst Co.?
Who will lead Wm. F. Hurst Co. after the acquisition?
