MERGERS AND ACQUISITIONS MultiSource Manufacturing, Minnetonka, has acquired Form Tools Inc., Plymouth. Form Tool's operations will be consolidated into other MultiSource Manufacturing sites, on or before Dec. 31.
U.S. Bank, a provider of fuel card services for Class 1-6 cars and light trucks, has acquired TransCard's Class 7-8 fuel card network.
NEW BUSINESS 3M Library Systems, a unit of 3M Co., Maplewood, and Polaris Library Systems, Liverpool, N.Y., have entered into a new agreement that will see Polaris offering 3M's automated materials-handling, RFID and SelfCheck systems.
Polaris Industries Inc., Medina, formed a 50/50 joint venture with Eicher Motors, a maker of commercial vehicles and motorcycles in India. The new operation will develop and market new products in India and other emerging markets. Overall investment is expected to be about $50 million, shared over three years.
DEBT AND EQUITIES Universal Hospital Services, Bloomington, has a cash tender offer to buy any and all of its outstanding $405 million aggregate principal amount of 8.50 percent/9.25 percent second lien senior secured PIK Toggle notes due 2015. The tender offer is scheduled to expire at 11:01 p.m. Twin Cities time on Aug. 21.
Personnel Fastenal Co., Winona, a wholesaler and retailer of industrial and construction supplies, has named Leland Hein Jr. president; he had been executive vice president of sales. Willard Oberton, who held the president and CEO titles, remains CEO. Nicholas Lundquist was elected executive vice president of operations; Kenneth Nance was named executive vice president of sales for the eastern region, and Gary Polipnick was named executive vice president of sales for the western region.
