Acklands-Grainger Announces Agreement to Acquire WFS Enterprises Inc.

Acklands-Grainger, Canada’s largest distributor of industrial, safety and fastener products, announced its agreement to acquire WFS Enterprises Inc., a leading distributor of tools and supplies to industrial markets in Southern Ontario and select U.S. locations. The acquisition is expected to be accretive in the first calendar year of operations. Terms of the transaction were not disclosed. Founded in 1955 as Windsor Factory Supply and based in Windsor, Ontario, WFS offers customers more than 100,000 products with a focus on safety, metalworking, plumbing, and hand and power tools. The company employs approximately 275 people and has 12 locations including 10 branches in Southwest Ontario, and two locations in the U.S., in Michigan and South Carolina. WFS had 2013 sales of approximately CAD $90 million/ USD $87 million. Subject to regulatory approval and certain customary closing conditions, this transaction is expected to close in the third quarter of 2014. (Source: Acklands-Grainger)