A major facilities maintenance products distributor, Grainger Inc. (Ticker:GWW), announced the purchase of ACAS' portfolio company Imperial Supplies LLC. Previously described here as a recession-weathering ACAS portfolio component, Imperial is expected by Granger to improve its bottom line by three to five cents per share in 2010.
In 2008, Imperial's sales were $67 million, and the transaction was an all-cash deal. The sales price was not immediately evident, but the transaction evidences ACAS' ability to identify private buyers able to benefit from the capabilities of ACAS' portfolio companies and willing to pay cash to obtain them. In this market, that's not a bad thing at all.