Lab Safety Supply Inc., a cataloger of safety equipment, has acquired Highsmith Inc., a direct marketer of library equipment, furniture and supplies, for an undisclosed sum.
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Lab Safety Supply Inc., a cataloger of safety equipment, has acquired Highsmith Inc., a direct marketer of library equipment, furniture and supplies, for an undisclosed sum.
“We are pleased to be adding Highsmith to our specialty catalog group,” said Larry Loizzo, president of Lab Safety, in a statement.” “They have built a solid brand position in the library and school supplies market over the past 50 years; we intend to build upon it.”
Lab Safety estimated it will take six months to integrate Lab Safety into its operations but expects this acquisition to add $20-30 million to its sales this year.
The transaction is expected to breakeven in the first 12 months; due to the timing and anticipated transition costs, noted Lab Safety.
