Lab Safety Supply, a division of industrial distributor W.W. Grainger Inc., has signed a definitive agreement to acquire in a single transaction all of the assets of business-to-business direct marketers Professional Inspection Equipment Inc. and Construction Book Express Inc.
Hauppauge, NY-based Professional Inspection Equipment and Construction Book Express are direct marketers of tools, instruments and reference materials to the $2.5 billion building and home inspection market. The two companies serve over 85,000 active customers, including inspectors, designers, architects, engineers and electricians and had annual sales in 2006 of more than $20 million.
The deal is expected to close within the next week. Terms were not disclosed.
The deal will enable LSS, Chicago, to further diversify its customer base into the services sector and fits Grainger’s strategy to accelerate the division’s growth by finding direct marketing companies that complement its targeted catalog approach.
LSS is a direct marketer of targeted, specialty businesses in the safety, industrial, environmental and homeland security markets.
Professional Inspection Equipment and Construction Book Express will be marketed as independent brands.