Leader in fragmented industry positioned to continue increasing market share and improve margins. Trades at a steep discount to peers. Distributor servicing maintenance and repair industry in N.A. About 2m SKUs, 80% focused on heavy manufacturing. Closely exposed to the industrial production cycle. Expected to benefit from onshoring and customers’ desire to reduce supply chain risk.
Current Price – $72.53;
Offer Price – $66 – $72.5;
Upside – no upside currently;
Expiration date – 4 August 2016;