Lawson Products to sell Rutland

Des Plaines-based Lawson Products Inc., a distributor of maintenance, repair and operations products, announced Wednesday that it has reached a definitive agreement to sell substantially all of the assets of Rutland Tool & Supply Co., a wholly owned subsidiary, to Sid Tool Co. Inc, a wholly owned subsidiary of MSC Industrial Direct Co. Inc. for approximately $11 million in cash plus the assumption of certain liabilities.

Based in Whittier, Calif., Rutland is an industrial supplier providing metalworking and maintenance solutions. The transaction is expected to close in the fourth quarter of 2010.

Lawson Products' sale of Rutland aligns with the company's ongoing strategy to provide resources to focus on advancing the Lawson MRO business, its most profitable and fastest growing segment. Lawson will continue to offer its full line of MRO products, including Rutland products, to its customers.

“The sale of Rutland will provide us with valuable resources to further invest in and grow our core MRO business,” said Tom Neri, president and chief executive officer of Lawson Products. “Through this sale, as well as through the recent sale of Assembly Component Systems, Inc., we are successfully positioning Lawson for profitable growth and ensuring our strong competitive position for the future.”

Founded in 1952, Lawson Products is an industrial distributor of more than 200,000 different maintenance and repair supplies. Lawson Products serves its customers through a dedicated team of 1,200 experienced field sales agents and approximately 1,000 employees. The company services the industrial, institutional, commercial and government markets in all 50 U.S. states, Canada and Puerto Rico.