Worcester industrial supplier acquired by Connecticut firm
PHOTO | Courtesy Google Maps
Washburn-Garfield Corp. on Prescott Street in Worcester
Worcester-based Washburn-Garfield, an industrial pipe, valve, and fitting supplier, has been acquired by The Collins Cos., a distributor in East Windsor, Connecticut.
Washburn-Garfield subsidiary Waites Co. was part of the acquisition, according to a Tuesday press release from The Collins Companies. Waites, based in Worcester, is a distributor of abrasives and cutting tools.
Financial terms were not disclosed, nor did Collins detail potential impacts on employees.
The acquisition is part of Collins’ move into the Worcester market, where it will begin establishing its brand and expanding capabilities, according to the press release.
Washburn has an employee stock ownership plan, which owns all of its stock. The completion of the acquisition transaction is subject to a shareholder vote, expected to occur by the end of June.
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