United Stationers completes acquisition of MEDCO

Deerfield-based United Stationers Inc. subsidiary United Stationers Supply Co. has completed the acquisition of Liberty Bell Equipment Corporation, a wholesaler of automotive aftermarket tools and supplies, and its affiliates including G2S Equipment de Fabrication et d'Entretien ULC, a Canadian wholesaler.

United Stationers in September announced plans to acquire the Philadelphia, Pennsylvania-based company for $130 million in cash, subject to closing adjustments.

Collectively known as MEDCO, the company is North America's largest combined paint, body and equipment and tool & equipment wholesaler in the automotive aftermarket. With more than 50,000 products from more than 350 manufacturers, MEDCO serves traditional distributors, retailers and mobile tool dealers through nine distribution centers across the U.S. and three distribution centers in Canada.

MEDCO annual sales are approximately $240 million.

United Stationers funded the acquisition through a combination of cash on hand and cash available under its revolving credit facility, the company said in a statement. The transaction is expected to be neutral to earnings in 2014 and accretive within the first year.