July 10, 2024 – NEFCO, a premier specialty supply partner to the professional construction trades, is excited to announce the acquisition of Modern Fasteners, a Pennsylvania-based distributor in the construction supply industry. This strategic move marks NEFCO’s eighth acquisition since 2022 and expands its branch network to 41 locations – strengthening our commitment to be the single best partner to contractors whenever they build.
Modern Fasteners, Inc. was founded in 1970 by William Damm, under the name of Modern Tool & Equipment. In 1998, Modern Tool & Equipment Inc. became Modern Fasteners, Inc., at which time the owners were William Damm, Gary Damm and Michael Damm. In 2004, William Damm retired and in 2016, Gary Damm retired, leaving Michael as the sole owner. In 2017, Michael’s wife, Marie, joined her husband in the family business, and they continue to work side by side to this day.
Matthew Gelles, President & CEO of NEFCO, expressed his enthusiasm about the acquisition: “We are all excited to be joining forces with Mike, Marie and the rest of the great team at Modern. Modern Fasteners has a tremendous reputation for great customer service and has built a strong and loyal customer base throughout the greater Philadelphia market. We are honored to have been chosen to be their partner for this next chapter in Modern’s history.”
“Modern Fasteners is thrilled to now be part of the NEFCO family and sharing in the vision that NEFCO has for the future”, states Modern Fastener owners, Marie Damm and Mike Damm. “Their integrity and commitment to their associates and customers aligns perfectly with Modern’s philosophy. We’re looking forward to the many opportunities now available to our associates, along with a much broader range of products available to our customers. Since Modern has been family owned and operated since 1970, it was imperative we join forces with a company who values their employees, customers and vendors and treats them with the utmost respect. We’re very thankful for Matt and Ron and the entire NEFCO team and we’re excited to see what this new chapter holds.”
About NEFCO – NEFCO is a family owned and operated construction supply company providing a broad range of products and services to a large variety of professional contractors. With 40 locations throughout the United States, NEFCO provides localized, contractor-centric services including extensive industry expertise, large local inventories, fast dependable jobsite delivery, turnkey engineering services, and specialty fabrication and assembly of construction materials. www.GoNefco.com
About Modern Fasteners – At Modern Fasteners, we take pride in our commitment to serve our customers’ construction needs and maintain professionalism and integrity while successfully delivering quality and prompt service. We are a service driven business where customer satisfaction is our ultimate goal. http://www.modernfasteners.com/
SOURCE: NEFCO
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