Grainger Acquires Fastener Business

W.W. Grainger, Lake Forest, Ill., said its Lab Safety Supply (LSS) subsidiary has acquired McFeely’s Square Drive Screws, for an undisclosed amount.

McFeely’s, Lynchburg, Va., is a business-to-business direct marketer of specialty fasteners, hardware and tools for the professional woodworking industry. It will be marketed as an independent brand by Lab Safety Supply, a direct marketer of targeted, specialty business products in the safety, industrial, environmental and homeland security markets. Through a similar direct marketing model, McFeely’s serves over 70,000 active customers including serious woodworkers, handymen, home improvement professionals, construction companies and cabinet makers. The company had annual sales in 2006 of more than $9 million.

Grainger posted $5.88 billion in sales in 2006.
This acquisition will enable LSS to further penetrate the woodworking and construction markets," said Grainger’s Chairman and Chief Executive Officer Richard L. Keyser.

This transaction is similar to LSS’acquisitions of the Ben Meadows, Gempler’s, AW Direct, Rand, Professional Equipment and Construction Book Express businesses, which have provided diversification to the LSS customer base.

Grainger, with 426 locations and an estimated $1 billion in 2006 electrical sales, ranked No. 8 in Electrical Wholesaling’s Top 200 listing of electrical distributors that will be published this month.