Essendant closes on acquisition of Nestor Sales LLC
Aug. 3, 2015
Essendant Inc., a supplier of workplace essentials, announced that its wholly-owned subsidiary Essendant Co. has completed the acquisition of Nestor Sales LLC.
Essendant Inc., a supplier of workplace essentials, announced that its wholly-owned subsidiary Essendant Co. has completed the acquisition of Nestor Sales LLC. Nestor is a leading wholesaler and distributor of tools, equipment and supplies to the transportation industry. It offers more than 24,000 branded and private label products from 10 distribution centers strategically located across the United States. In 2014, Nestor had sales of more than $70 million. Essendant funded this acquisition through a combination of cash on hand and cash available under its revolving credit facility. The transaction is expected to be slightly dilutive to 2015 earnings, and add $0.04 to $0.05 to earnings per share in 2016. Essendant used to be known as United Stationers.
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