A Melville-based industrial equipment distributor has snapped up an Iowa-based industrial supplier.
The transaction was completed July 31, according to MSC, a premier distributor of metalworking and MRO products – for “maintenance, repair and operations” – to industrial customers throughout North America.
MSC is “extremely excited” about the acquisition of “one of the best metalworking distributors in the country,” according to MSC Industrial Supply Co. President and CEO Erik Gershwind – not to mention a competitor that reported roughly $100 million in 2016 revenues.
“DECO is a perfect fit with our strategic plan, as the acquisition enhances our metalworking business, which is the foundation of MSC,” Gershwind said Monday. “DECO brings a talented team with considerable experience and expertise, and strengthens our presence in several important markets in the Midwest.”
DECO President Dennis Quinn said the merger creates “a powerful combination.”
“Both organizations offer decades of metalworking expertise through topnotch people who put the customer first,” Quinn said in a statement. “Leveraging the strengths of DECO and MSC will provide our customers greater product offerings, service levels and value-added solutions to help them succeed.”
While leveraging DECO’s existing sales force of 190-plus associates in 10 Midwest branch offices, MSC plans to give DECO’s customer base access to the Melville distributor’s portfolio of more than a million products and otherwise “support their full metalworking and MRO needs,” according to MSC.