Maintenance products distributor W.W. Grainger Inc. said Wednesday it has paid $5.4 million for a stake in an Indian industrial and electrical wholesale distributor.

Along with the $5.4 million purchase price for 49.9 percent of Asia Pacific Brands India Ltd., Grainger put in a $1.1 million matching investment to help expand the business.

Asia Pacific had revenue of $47 million in its last fiscal year ended March 31. It has 27 locations across India.(CNN Money)