W.W. Grainger, Inc. (GWW) said Wednesday that it has signed and closed an all cash acquisition of Alliance Energy Solutions.
Grainger anticipates that the deal should be accretive to earnings in 2010 by about $0.01 to0.02 per share. Other terms of the deal were not disclosed.
Headquartered in Oxford, Connecticut, Alliance Energy Solutions provides turn-key energy-efficient retrofits. Alliance Energy President Kevin Siebrecht, and Chief Operating Officer Matt James will continue to lead the operations under the Alliance brand name. Alliance had sales of $20 million in 2008.
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