M&A - MSC INDUSTRIAL DIRECT CO INC

Form Type: 11-K

Filing Date: 2025-06-26

Corporate Action: Acquisition

Type: New

Accession Number: 000100307825000068

Filing Summary: The annual report on Form 11-K for the MSC Industrial Direct 401(k) Plan details the financial statements for the year ending December 31, 2024, including the net assets available for benefits and changes in those net assets. The report includes audited financial statements which show the net assets available for benefits increased from $639,118,090 at the beginning of the year to $708,862,985 at the end of the year. Significant additions to net assets were noted, amounting to $138,221,219, which included net appreciation in fair value of investments of $62,640,924 and contributions from participants totaling $31,804,510. The report mentions an acquisition during 2024 where MSC Industrial Direct Co., Inc. acquired 100% of ApTex, Inc. and certain assets of Premier Tool Grinding, Inc., which led to the liquidation of their respective retirement plans. The document outlines various provisions of the 401(k) Plan under ERISA, detailing contribution rates, investment options, administrative responsibilities, and participant rights. Additionally, it states that the Plan has maintained qualified status with the IRS and is exempt from federal income tax. The financial implications of investment strategies and participant contributions are examined in relation to their overall performance.