Fastenal Company has agreed to acquire certain assets of Manufacturer’s Supply Company (Mansco), a regional industrial and fastener supply distributor headquartered in Hudsonville, Michigan.
“From our first discussions, we were impressed with the Mansco team,” said Dan Florness, President and CEO of Fastenal. “It has built a successful business in a challenging fastener distribution market through a focus on customers and a ‘can-do’ approach. This speaks to the company’s ability to execute and illustrates how well Mansco will fit with our own “growth through customer service” culture. We look forward to welcoming Mansco to the Fastenal family. Our complimentary capabilities make both businesses stronger.”
Mansco has additional facilities in Madison, Alabama and McAllen, Texas. It specializes in fastener products, particularly in commercial furniture OEMs, an area of future growth for Fastenal.
“I am extremely pleased about the opportunity for the business and our employees to move forward with Fastenal,” added Jim Mol, president and owner of Mansco. “Fastenal brings an enormous supply capability and cost saving technologies to our customers. This combination will help us grow and better serve our customers, while maintaining the excellent quality and service our customers have come to expect.”
Mansco generated approximately $50 million of revenue in 2016, largely from its flagship Michigan location. The transaction is expected to be accretive in the first 12 months, though it should not be material to earnings per share.
The agreement includes several conditions to close, and it’s expected to close by the end of March.
Fastener Business, Fasteners, News
I do not even know how I ended up here, but I thought this post was great.
I do not know who you are but certainly you are going to a famous blogger if you aren’t already 😉 Cheers!
Hey there would you mind stating which blog platform you’re
working with? I’m planning to start my own blog soon but I’m having a tough time making a decision between BlogEngine/Wordpress/B2evolution and Drupal.
The reason I ask is because your layout seems different then most blogs and I’m looking for something unique.
P.S My apologies for being off-topic but I had to ask!
Howdy just wanted to give you a quick heads up.
The text in your article seem to be running off the
screen in Chrome. I’m not sure if this is a format issue or something to do with browser compatibility but I figured
I’d post to let you know. The design and style look
great though! Hope you get the problem solved soon. Many thanks
Hi there, I check your blog regularly. Your writing style is witty, keep up the good work!
I’d like to find out more? I’d want to find out more details.
After I initially commented I seem to have clicked
the -Notify me when new comments are added- checkbox and from now on every time a comment is
added I recieve four emails with the same comment.
Perhaps there is an easy method you can remove me from
that service? Cheers!