MSC Industrial Direct
{{Independent sources|date=December 2020}}{{short description|American distributing company}}
{{Infobox company
| name = MSC Industrial Direct Co., Inc
| logo = MSC Logo.png
| logo_size = 250px
| type = Public
| traded_as = {{NYSE|MSM}} (Class A)
S&P 400 Component
| caption =
| foundation = New York, New York (1941)
| founder = Sidney Jacobson
| location = Melville, New York,
Davidson, North Carolina
| key_people = Mitchell Jacobson, Chairman
Erik Gershwind, President & CEO
Martina McIsaac, EVP & Chief Operating Officer
Kristen Actis-Grande, EVP & Chief Financial Officer
Beth Bledsoe, SVP & Chief People Officer
John Hill, SVP & Chief Digital Information Officer
Kim Shacklett, SVP, Sales & Customer Success
Neal Dongre, VP, General Counsel & Corporate Secretary
Jim Drohan, VP, Business & Commercial Development
| num_employees = 7,000-plus (2023)
| industry = Industrial Equipment Wholesale
| products =
| revenue = {{decrease}}$3.7 billion USDUSD (2022)
| net_income = {{decrease}}$340 million USD (2022)
| homepage = {{URL|https://www.MSCdirect.com}}
}}
MSC Industrial Direct Co., Inc (MSC), through its subsidiaries, primarily MSC Industrial Supply Co., is one of the largest industrial equipment distributors in the United States,{{Cite web |title=MSC tools up to grow in industry, Davidson |url=https://www.bizjournals.com/charlotte/print-edition/2013/09/06/msc-tools-up-to-grow-in-industry.html |access-date=2020-12-03 |website=www.bizjournals.com}} distributing more than 1.5 million metalworking and other industrial products.{{Cite web |last=Brohan |first=Mark |date=2019-08-22 |title=MSC Industrial Supply prioritizes value-added ecommerce |url=https://www.digitalcommerce360.com/2019/08/21/msc-industrial-supply-prioritizes-value-add-ecommerce/ |access-date=2020-12-03 |website=Digital Commerce 360 |language=en-US}}
History
MSC was founded in 1941 as Sid Tool, Inc., by Sidney Jacobson, in New York's Little Italy. It originally sold cutting tools and accessories to New York City machine shops.* [http://www.newsday.com/business/ny-bzwinn0515,0,2269389.story Newsday: A Wall Street Darling] The company later moved its headquarters to Plainview, New York.
In 1970, Manhattan Supply Company was acquired and, in 1998, moved its headquarters to Melville, New York, on Long Island. The company currently operates from five regional Customer Fulfillment Centers and 12{{Cite web |title=MSC Industrial Supply Co. {{!}} Locations |url=https://www.mscdirect.com/corporate/locations |access-date=2017-02-23 |website=www.mscdirect.com |language=en}} branch offices.{{cite web |title=About MSC |url=http://www.mscdirect.com/corporate/about-msc |accessdate=2016-05-31}}
In 1997 MSC acquired Enco Manufacturing Company.{{citation |title= Enco FAQ |url=https://cdn.mscdirect.com/global/media/pdf/enco/enco-faqs.pdf }}
On June 8, 2006, MSC completed the acquisition of J & L America, Inc. DBA J & L Industrial Supply (J & L), a subsidiary of Kennametal, for $349.5 million.{{cite web |title=MSC History |url=http://www.mscdirect.com/corporate/company-timeline |accessdate=2016-05-31}}
In 2013, Erik Gershwind, Sid Jacobson's grandson, was named President and Chief Executive Officer. In 2013 the company opened its co-headquarters office in Davidson, North Carolina, which is located in the Charlotte metropolitan area. The company has expanded to 750 employees at the co-headquarters, with 120 employees making the move to the Carolinas from the Melville office.{{cite web |title=MSC opens Davidson coheadquarters |url=http://www.prnewswire.com/news-releases/msc-announces-grand-opening-of-co-headquarters-in-davidson-nc-225069772.html |accessdate=2016-05-31}}
In 2013, MSC acquired Barnes Distribution North America to expand its footprint in Canada. The business was renamed Class C Solutions Group.
In 2017, MSC acquired DECO Tool Supply Co., an industrial supply distributor based in Davenport, Iowa, to expand its footprint in the region.
In 2018, MSC acquired All Integrated Solutions, a value-added distributor of industrial fasteners and components, MRO supplies and assembly tools based in Franksville, Wisconsin.
In 2019, MSC completed a transaction with TAC Global Solutions, a Mexican industrial distribution company, to expand into Mexico.
In 2022, MSC acquired Engman-Taylor, a Menomonee Falls, Wisconsin-based distributor of metalworking tools and supplies. That same year, MSC also acquired Tower Fasteners, a Holtsville, New York-based valued-added distributor of Original Equipment Manufacturer (OEM) fasteners and components.
In 2023, MSC acquired Buckeye Industrial Supply Co., an independent metalworking distributor based in Columbus, Ohio, and Tru-Edge Grinding Inc., a St. Henry, Ohio-based custom tool manufacturer.{{cn|date=June 2023}}
References
External links
{{Finance links
| name = MSC Industrial
| symbol = MSM
| reuters = MSM.N
| bloomberg = MSM:US
| sec_cik = MSM
| yahoo = MSM
| google = MSM
}}
{{S&P 400 companies}}
{{authority control}}
Category:Industrial supply companies
Category:Distribution companies of the United States
Category:Companies based in Suffolk County, New York
Category:Companies listed on the New York Stock Exchange
Category:Companies in the S&P 400
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