UPDATE 1-Grainger sees in-line Q4 profit; buys Alliance Energy

* Sees Q4 EPS $1.13-$1.23 vs est $1.21

* Sees Alliance Energy buy accretive to FY10 earnings

* Shares down more than 3 pct

Nov 18 (Reuters) - WW Grainger Inc (GWW.N), a supplier of building maintenance products, forecast fourth-quarter profit largely in line with Wall Street estimates, and said it acquired energy services company Alliance Energy Solutions in an all-cash deal.

For the quarter ending Dec. 31, the company expects earnings of $1.13 to $1.23 a share and sales in the range of down 2 percent to up 1 percent.

Analysts on average were expecting Grainger to earn $1.21 a share on revenue of $1.55 billion, according to Thomson Reuters I/B/E/S.

It also forecast fiscal 2010 earnings of between $5.30 to $5.80 a share, with revenue expected to be up 4 percent to 9 percent.

Analysts expect the company to earn $5.76 a share on revenue of $6.54 billion.

Separately, Grainger said it had acquired Alliance Energy Solutions and expects the acquisition to add to its 2010 earnings by about 1 cent to 2 cents a share. Other terms of the deal were not disclosed. [nWNAB7688]

Shares of the Lake Forest, Illinois-based company were trading down $2.43 at $99 in afternoon trade Wednesday on the New York Stock Exchange. (Reporting by Biswarup Gooptu in Bangalore; Editing by Maju Samuel)