About the Author: RICHARD P. HAGAN

Richard P. Hagan is the president of Pinnacle Capital Corporation, a boutique investment banking firm which specializes in providing merger & acquisition advisory services to the global fastener industry.  Since its founding in 1993, Pinnacle has provided expert guidance and assistance to a broad range of fastener company clients – large and small, manufacturers and distributors, publicly-traded and privately-owned – in numerous countries around the world.  The majority of the projects undertaken by Pinnacle are sale / divestiture assign-ments. The firm also provides expert advice and assistance with acquisitions, strategic investments, joint venturepartnerships, debt & equity financings, business valuations and fairness opinions. 

Hagan has more than twenty-five years of international investment banking experience and has worked on a broad range of successful domestic and cross-border M&A transactions, corporate restructurings and capital raisings.  Prior to founding Pinnacle, Hagan managed the New York operations of a publicly-traded Australian investment bank.  He began his career in the fund management field in 1985 after earning a B.A. in Economics from the University of North Carolina at Chapel Hill and an M.B.A. in Finance from Fordham University in New York City. Pinnacle is located at 82 Nassau Street, Suite 352, New York, New York 10038.   Phone:  212-267-8200. Email:  rphagan@pinnaclecapitalcorp.com

 

 

In this issue, we will briefly review all the fastener company acquisitions – a total of 27 worldwide – completed during the second half of 2017. See the Fall 2017 issue of Distributor’s Link for the acquisitions completed during the first half of 2017.

It is impossible to track every single fastener company transaction because many deals involving private companies are not publicly disclosed. That said, we believe the following list is the most comprehensive and detailed you will find.

With a total of forty-nine transactions consummated during 2017, fastener industry deal-making remained very strong compared to recent years.

 

 

On July 3, 2017, NORMA Group SE purchased an 80% equity stake in Fengfan Fastener Co. Limited (“Fengfan Fastener”). Founded in 1988 and headquartered in Shaoxing City, China, Fengfan Fastener is a manufacturer of cable ties, straps & buckles and specialty fire-resistant textiles made from stainless steel, plastic, nylon and other specialty materials. The company utilizes injection molding, casting, stamping and cutting processes in production. Fengfan Fastener employs around 190 people and generated net sales of approximately €15 million (US$17.7 million) in calendar 2016. Headquartered near Frankfort, Germany, NORMA Group (Frankfort Stock Exchange: NOEJ) develops and manufactures a broad range of clamps, connectors, fittings and joining products for companies and applications around the globe. The company operates 28 production facilities across Europe, Asia and the Americas and employs around 6,700 people worldwide. In calendar 2016, NORMA Group generated net sales of €895 million (US$1.05 billion).

Purchase price: not available

 

On July 12, 2017, Bolts & Nuts Corporation purchased Industrial Fastening of Macon LLC (“IFM”). Founded in 2012 and located in Macon, Georgia, IFM is a distributor of fasteners and Class C components, supplying OEM and MRO customers concentrated in central Georgia. Founded in 1979 and headquartered in Chattanooga, Tennessee, Bolts & Nuts is a full service distributor of fasteners and Class C components, providing advanced supply chain management services to a diverse range of OEM and MRO customers. Bolts & Nuts operates six branches in: Macon, Georgia; Mocksville, North Carolina; Louisville, Kentucky; Chicago, Illinois; Lincoln, Nebraska; and Hayward, California. Following the transaction closing, it is expected that the operations of IFM will be consolidated with Bolts & Nuts’ existing branch located in Macon. Bolts & Nuts is owned by Nebraska Heavy Industries LLC, a Lincoln, Nebraska-based investment company.

Purchase price: not available

 

On July 13, 2017, MW Industries Inc. purchased Tri-Star Industries Inc. (“Tri-Star”). Founded in 1991 and located in Berlin, Connecticut, Tri-Star is a manufacturer of standard and custom designed threaded inserts for plastic, along with made-to-print, precision machined components. Tri-Star supplies more than 500 customers in industries including automotive, electronics, communications, medical equipment, hand tools and the US military. Founded in 1973 and headquartered in Rosemont, Illinois, MW Industries manufactures a diverse range of engineered mechanical components including springs, precision stampings, wire forms, metal bellows, specialty fasteners and precision machined parts. The company is comprised of 21 manufacturing business units (before the Tri-Star acquisition) spread across the United States. Tri-Star is MW Industries’ fifth acquisition since January 1, 2015. MW Industries is a portfolio company of Genstar Capital LLC, a San Francisco-based private equity firm with more than $5 billion of committed capital under management. 

Purchase price: not available

 

On July 14, 2017, Indutrade AB purchased Young Black Industrial Stapling Ltd. (“Young Black”). Founded in 1979 and located in Swindon, England, Young Black is a distributor of collated fasteners and pneumatic nailers & staplers used for construction and general industrial applications. The company stocks and sells a broad range of pneumatic tools which are marketed primarily under the Max® and Montana® brand names. Young Black generates annual net sales of approximately £10 million (US$13.2 million) and employs 30 people. Indutrade (Nasdaq OMX Stockholm: INDT) manufactures and distributes a diverse range of industrial products including flow control systems, pumps & compressors, hydraulic & pneumatic products, transmission & automation systems and highly engineered mechanical components. Founded in 1978 and headquartered outside Stockholm, Sweden, Indutrade is comprised of more than 200 business units and employs more than 5,500 people worldwide. In calendar 2016, Indutrade generated net sales of SEK13.0 billion (US$1.55 billion).

Purchase price: not available

 

On July 17, 2017, Big Shoulders Capital LLC (“BigShoulders”) purchased Anderson Manufacturing Co. Inc. (“Anderson”). Founded in 1976 and located in Bristol, Wisconsin, Anderson manufactures screws, rivets, pins and other cold headed specialty parts for the automotive, electronics, medical, appliance, furniture and hardware markets. The company operates from a 52,000 square foot manufacturing facility, employs approximately 50 people and runs three shifts daily. Anderson was acquired by Rockford Products Corp. in December 2015 and Rockford Products subsequently went out of business in September 2016. Founded in 2013 and located in Northbrook, Illinois (a Chicago suburb), Big Shoulders is a privately-owned investment firm which specializes in business turnarounds and non-traditional restructuring financings. Following the transaction closing, Big Shoulders brought back the former president of Anderson and intends to invest additional capital in the company to support future growth. 

Purchase price: not available

 

On July 21, 2017, AFC Holdings Inc., doing business as AFC Industries, purchased Best Bolt Products Inc. (“Best Bolt”). Founded in 1981 and headquartered in Indianapolis, IN, Best Bolt is a full-service distributor of fasteners and Class C components, supplying an OEM customer base. The industries served by Best Bolt include trucks & trailers, heavy equipment, lawn & garden equipment, agricultural equipment, pumps & valves and electronic equipment. The company employs around 20 people and operates branches in Brazil, Indiana and North Carolina. Founded in 1967 and headquartered in Bridgeville, PA, AFC Industries is a full-service distributor of fasteners and Class C components, specializing in providing its OEM customer base with advanced supply chain management services. AFC Industries has been highly acquisitive over the past few years and was comprised of six business units prior to the purchase of Best Bolt: i) Advanced Fastener (Ohio); ii) Dell Fastener (Pennsylvania and Georgia); iii) Gateway Fasteners (Pennsylvania); iv) Eckart & Finard (Connecticut); v) R&E Fasteners (Nevada); and vi) Accurate Fasteners (Massachusetts). AFC Industries is a portfolio company of Incline Equity Partners, a Pittsburgh-based private equity firm with more than $900 million of committed capital under management.

Purchase price: not available

 

On July 21, 2017, Hangzhou GreatStar Industrial Co. Ltd. (“GreatStar”) purchased Arrow Fastener Co. LLC. Founded in 1929 and based in Saddle Brook, NJ, Arrow Fastener is the leading manufacturer of staple guns and heavy duty staples in North America. The company’s product range includes manual & electric staple & nail guns and glue & rivet tools. Arrow Fastener products are sold to consumers and commercial contractors, primarily through home centers, mass merchants and specialty retailers. Founded in 1993 and headquartered in Hangzhou, China, GreatStar is a developer, manufacturer and distributor of hand tools and power tools. The company manufactures a full range of specialty tools for drywall, masonry, tiling, plumbing and painting, along with automotive & general industrial applications. GreatStar products are sold to DIY consumers, professional contractors and industrial manufacturers around the globe. GreatStar shares are traded on the Shenzhen Stock Exchange (stock code: 002444). The seller of Arrow Fastener was Masco Corporation (NYSE: MAS), which acquired the company in 1999.

Purchase price: $128 million

 

On July 31, 2017, Snow Phipps Group LLC (“Snow Phipps”) purchased Ideal Clamp Products Inc., doing business as Ideal-Tridon. Founded in 1913 and headquartered in Smyrna, Tennessee, Ideal-Tridon is a designer and manufacturer of specialty clamps, couplings and strapping. The company’s diverse product range is utilized by the automotive, heavy truck, petroleum, chemical, marine, plumbing, irrigation and general industrial sectors. Ideal-Tridon’s fastening and sealing products are manufactured and distributed globally, with ten facilities in the United States (4), Mexico (2) Poland, India, Japan and China. Founded in 2005 and located in New York, NY, Snow Phipps is an operationally-focused private equity firm which targets platform investments with enterprise values between $100 and $500 million. Snow Phipps currently has $2.4 billion of assets under management. The seller of Ideal-Tridon was Industrial Growth Partners L.P., a San Francisco-based private equity firm with more than $800 million of committed capital under management. 

Purchase price: not available

 

On August 1, 2017, Steel Dynamics Inc. (NYSE STLD) purchased the commodity threaded rod division (the “CTR Division”) of All America Threaded Products Inc. (“AATP”). The CTR Division of AATP operates from a 120,000 sq ft manufacturing plant in Indianapolis, IN and produces threaded rod for a diverse range of applications including plumbing, construction and HVAC. AATP acquired the Indianapolis operations in 2008 when it purchased Threaded Rod Company Inc. Two other nearby acquisitions completed in 2010 – Rods Indiana Inc. and J&D Industrial Products Inc. – were subsequently consolidated into the Indianapolis facility. Founded in 1993 and headquartered in Fort Wayne, IN, Steel Dynamics manufactures steel products including hot roll steel coils, structural & rail steel, engineered bar products and specialty shapes. Steel Dynamics is one of the largest metal recyclers in the US with approximately 75 recycling locations. The CTR Division will operate as a division of Vulcan Threaded Products Inc., a wholly-owned subsidiary of Steel Dynamics which was acquired in August 2016 for $114 million.

Purchase price: not available

 

On August 1, 2017, Altenloh, Brinck & Co. U.S. Inc. (“ABC USA”) purchased Rodenhouse Inc. Founded in 1993 and located in Grand Rapids, MI, Rodenhouse is a designer and manufacturer of specialty screws, washers and installation tooling for building envelope (walls and roofs) fastening solutions. The company’s proprietary products are used primarily to attach various building envelope components including rigid continuous insulation, building wrap and lath for adhered masonry. Founded in 1981 as TRUFAST Corporation and located in Bryan, OH, ABC USA is a developer and manufacturer of construction fasteners used primarily for roof and deck applications. Products are marketed under the well-known TRUFAST® and SPAX® brand names. ABC USA operates from a 196,000 sq ft manufacturing and administration facility, along with a nearby 11,000 sq ft heat treat facility. ABC USA is a wholly-owned subsidiary of Altenloh, Brinck & Co. GmbH (“ABC”) which was acquired in December 2005. Founded in 1823 in Ennepeta, Germany, ABC is a manufacturer of externally-threaded fasteners and cold headed specialty parts for the European automotive and general industrial markets. A privately-owned company, ABC generates annual net sales of more than €250 million. 

Purchase price: not available

 

On August 7, 2017, Kyocera Corporation purchased SENCO Brands Inc. (“Senco”). Founded in 1948 and headquartered in Cincinnati, Ohio, Senco is a designer, manufacturer and distributor of collated screws, nails and staples, along with branded cordless nailers, staplers and screwdrivers. The company’s fastener products and systems are used for a broad range of construction, woodworking and general industrial applications. Senco employs more than 600 people and operates from more than 15 global locations, selling products in more than 40 countries. Following the transaction closing, Senco will operate as part of Kyocera’s Global Cutting Tool Division. Founded in 1959 and headquartered in Kyoto, Japan, Kyocera (NYSE: KYO) is a multinational developer and manufacturer of ceramics, electronics and industrial cutting tools. Kyocera generates annual net sales of approximately $12.7 billion and employs more than 70,000 people worldwide. The seller of Senco was Wynnchurch Capital LLC, a Chicago-based private equity with $2.2 billion of committed capital under management. 

Purchase price: not available

 

On August 16, 2017, The Watermill Group purchased Cooper & Turner Limited. Founded in the 1960’s and headquartered in Sheffield, England, Cooper & Turner is a manufacturer and distributor of high-strength, large diameter fasteners for safety-critical applications. End-users of Cooper & Turner products include the heavy construction, wind energy, oil & gas, tunneling & mining and general industrial markets. In addition to a more than 500,000 square foot manufacturing plant in Sheffield, the company maintains five sales / warehouse locations in the United Kingdom (2), China (2) and the United States. Following the transaction closing, current Cooper & Turner senior management will remain in place and retain a significant equity shareholding. Founded in 1993 and located outside Boston, Massachusetts, Watermill Group is a private equity firm which targets platform acquisitions with annual net sales between $40 and $500 million. 

Purchase price: not available

 

On August 28, 2017, Bolts & Nuts Corporation purchased Challenger Component Services Inc. (“Challenger”). Founded in 2002 and headquartered in Nashville, Tennessee, Challenger is a distributor of fasteners and Class C components, supplying a predominantly OEM customer base. The company provides customers with a range of value-added services including VMI programs, global sourcing, kitting programs and custom bagging. Challenger maintains two branches in Oklahoma City, Oklahoma and Birmingham, Alabama. Founded in 1979 and headquartered in Chattanooga, Tennessee, Bolts & Nuts is a full service distributor of fasteners and Class C components, providing advanced supply chain management services to a diverse range of OEM and MRO customers. The company operates six branches in Georgia, North Carolina, Kentucky, Illinois, Nebraska and California. Bolts & Nuts is owned by Nebraska Heavy Industries LLC, a Lincoln, Nebraska-based privately-owned investment company. 

Purchase price: not available

 

On August 28, 2017, Max Mothes GmbH purchased VSP Fasteners SpA. Founded in 1978 and located near Milan, Italy, VSP Fasteners is a manufacturer of hot forged and cold headed screws and bolts, which are used primarily in high-end or safety-critical applications requiring the highest level of certified quality. The major end-user industries served by VSP Fasteners include heavy construction, heavy equipment, water & waste treatment, chemical processing and shipbuilding. The company generates annual net sales of around EUR13million and approximately 80% of production is exported to other European countries. Founded in 1918 and headquartered in Neuss, Germany, Max Mothes is a full-service distributor of fasteners and Class C components, which specializes in providing its primarily OEM customer base with advanced supply chain management services. The company also manufactures standard and made-to-print machined components. A privately-owned company, Max Mothes employs more than 300 people and operates branches in Austria, Belgium, Italy, Turkey and China. The seller of VSP Fasteners was Arcadia SGR SpA, a Milan-based private equity firm which invests in small to medium-sized companies in Italy. 

Purchase price: not available

 

On August 31, 2017, Koninklijke Nedschroef Holding B.V. (“Nedschroef”) purchased a 90% equity stake in CP Tech GmbH. Founded in 2006 and located in Búren, Germany, CP Tech is a developer and manufacturer of lightweight and high-strength metal components used primarily for automotive and motorsport applications. The company’s products are used in a range of engine, transmission, suspension and frame applications and its customer base includes Porsche, BMW, Bugatti, Lamborghini, Audi and Volkswagen. CP Tech operates from a 120,000 square foot manufacturing and engineering facility and employs approximately 175 people. Founded in 1894 and headquartered in Helmond, The Netherlands, Nedschroef manufactures a broad range of cold headed fasteners and specialty components which are sold primarily to the European automotive industry. The company is also engaged in the design and manufacture of cold heading machinery used to produce fasteners. Nedschroef operates from 25 locations in 14 countries and employs more than 2,000 people worldwide. The company generated net sales of €629 million (US$742 million) in calendar 2016. Nedschroef is a wholly-owned subsidiary of Shanghai Prime Machinery Company Ltd. (Hong Kong Stock Exchange: 2345). 

Purchase price: 5.3 million (US$6.3 million)

 

On September 29, 2017, American Securities LLC purchased MW Industries Inc. Founded in 1973 and headquartered in Rosemont, Illinois, MW Industries manufactures a diverse range of engineered mechanical components including springs, precision stampings, wire forms, metal bellows, threaded inserts, specialty threaded fasteners and precision machined parts. The company is comprised of 22 manufacturing business units spread across the United States. MW Industries produces more than 100,000 different product types which are sold to OEMs and aftermarket customers via a combination of direct sales, catalogs and distributors. End-users include the aerospace, electronics, medical, appliance, energy, automotive and many other sectors. American Securities is a New York City-based private equity firm with approximately $15 billion of assets under management. The seller of MW Industries was Genstar Capital LLC, a San Francisco-based private equity firm with more than  $5 billion of committed capital under management. 

Purchase price: not available

 

On October 3, 2017, Lawson Products Inc. (Nasdaq: LAWS) purchased The Bolt Supply House Ltd. (“Bolt Supply”). Founded in 1948 and headquartered in Calgary, Canada, Bolt Supply is a distributor of fasteners, power tools, safety products and industrial MRO supplies, serving companies and professional tradesmen across western Canada. The company operates thirteen branches in Alberta (9), Saskatchewan (3) and Manitoba and packages & ships product from a 43,000 square foot distribution center in Calgary. Bolt Supply generates annual net sales of approximately $34.5 million and employs 27 sales territory managers. Founded in 1952 and headquartered in Chicago, Illinois, Lawson Products is a national distributor of fasteners, fittings, cutting tools, hand tools and general industrial supplies. The company carries a comprehensive range of products and provides inventory management services to MRO customers throughout the United States, Canada, Mexico and the Caribbean. On December 31, 2016, Lawson Products employed approximately 1,590 people, including 1,130 sales & marketing representatives. In calendar 2016, the company generated net sales of $276.6 million.

Purchase price: $32.1 million

 

On October 5, 2017, Park-Ohio Holdings Corp. (“Park-Ohio”) purchased Heads & All Threads Limited. (“H&AT”). Founded in 1986 and headquartered in Birmingham, England, H&AT is a full-service distributor of fasteners and Class C components. Specializing in providing its OEM customers with advanced supply chain management solutions. The industries served by H&AT include automotive, power generation & transmission, high technology and construction. H&AT generates annual net sales of approximately $35 million and has five operating locations in England (2), Poland, Czech Republic and India. Founded in 1961 and headquartered in Cleveland, Ohio, Park-Ohio (Nasdaq: PKOH) manufactures a diverse range of engineered products and assembly components. The company’s Supply Technologies LLC business unit is a distributor of fasteners and Class C parts, specializing in providing customers with advanced supply chain management solutions. Supply Technologies operates 65 logistics service centers around the globe and generated net sales of $502 million in calendar 2016. Following the transaction closing, H&AT will operate as a wholly-owned subsidiary of Supply Technologies.

Purchase price: not available

 

On October 12, 2017, Threaded Fasteners Inc. (“TFI”) purchased Stateline Fasteners Inc. (“Stateline”). Founded in 2010 and located in Rossville, Georgia, Stateline is a locally-focused fastener distributor with an MRO and OEM customer base. Following the transaction closing, the Stateline staff and operations were relocated to TFI’s existing branch in Chattanooga, Tennessee (approximately 10 miles away). Founded in 1979 and headquartered in Mobile, Alabama, TFI manufactures and distributes fasteners for heavy construction and general industrial applications. The end-user industries served by TFI include power transmission, chemical processing, highway & lighting structures (DOT), metal building fabricators and heavy construction. The company operates six distribution centers in Mobile, Alabama; Panama City & Pensacola, Florida; Gulfport, Mississippi; Chattanooga, Tennessee; and Tulsa, Oklahoma with more than 180,000 square feet of total warehouse space. TFI is an employee-owned company with more than 140 employees.

Purchase price: not available

 

On October 30, 2017, Shoreview Industries LLC (“Shoreview”) purchased Winzer Corporation. Founded in 1978 and headquartered in Plano, Texas, Winzer is a nationwide distributor of fasteners and consumable maintenance supplies. The Winzer product range includes fasteners, electrical components, hydraulic fittings, automotive hardware, cutting tools, abrasives and many more. The company supplies the MRO requirements of a broad range of end-user markets including general industrial, automotive, institutional and government. A privately-owned company, Winzer markets and sells its products via a network of more than 275 independent, route-based franchisees. The company operates four strategically located distribution hubs in Plano, Texas; Sparks, Nevada; Saginaw, Michigan; and Santa Fe Springs, California. Founded in 2002, Shoreview is a Minneapolis, Minnesota-based private equity firm with $900 million of committed capital under management.

Purchase price: not available

 

On October 31, 2017, LISI S.A. (Link Solutions for Industry or “LISI Group”) purchased 51% of the share capital of Termax LLC. Founded in 1971 and headquartered in Lake Zurich, IL, Termax is a developer and manufacturer of specialty clip fasteners used predominantly for automotive and transportation applications. Products include plastic clip fasteners, sealing fasteners, birds beak (snap-in) fasteners, tether fasteners and magnetic fasteners. A privately-owned company, Termax operates a 120,000 sq ft manufacturing plant in Lake Zurich and a 40,000 sq ft plant in Suzhou, China. Termax employs more than 400 people and generated net sales of approximately $74 million in calendar 2016. Established in 1968 and headquartered in Belfort, France, LISI Group is a multinational manufacturer of fasteners, assembly hardware and specialty metal components. The company operates via three segments: i) LISI Aerospace (63% of total net sales); ii) LISI Automotive (29%); and iii) LISI Medical (8%). LISI Group operates 44 principal manufacturing facilities in 13 countries and employs more than 11,500 people worldwide. The company generated net sales of €1.57 billion in calendar 2016. The purchase of Termax was structured as a two-step transaction with 51% of the share capital sold at closing and the balance of the shares to be sold by year-end 2021.

Purchase price: not available

 

On October 31, 2017, Brighton-Best International Inc. (“Brighton-Best”) purchased W&G Industries Pty. Ltd., doing business as Koala Nails. Founded in 1981 and headquartered outside Sydney, Australia, Koala Nails is a stocking master distributor of construction fasteners. The company’s product range includes common nails, screws & staples, collated nails, screws & staples and self-drilling deck screws, along with pneumatic installation tools. A privately-owned company, Koala Nails operates two branch warehouses in Perth and Brisbane. Founded in 1965 and headquartered in Long Beach, California, Brighton-Best is the largest full-line fastener importer and master distributor in the United States. The company maintains one of the broadest fastener product ranges in the world, along with hand tools and consumable industrial supplies. Brighton-Best operates 32 distribution warehouses in the United States (21), Canada (3), Mexico, Brazil, United Kingdom, Australia (4) and New Zealand.

Purchase price: not available

 

On November 1, 2017, Adolf Würth GmbH & Co. KG (“Würth Group”) purchased Weinstock Bros. Inc. Founded in 1898 and located in Valley Stream, NY, Weinstock Bros. is a regional distributor of high strength structural bolts and general supplies for the structural steel industry and related fields. In addition to a full range of heavy construction fasteners, the company’s specialized product range includes installation tools, fabricating equipment, rigging, ironworker accessories and consumable supplies. Following the transaction closing, Weinstock Bros. became a business unit of Würth Industry of North America (“WINA”), one of the largest fastener and Class C component distributors in North America. Weinstock Bros. is particularly complementary with House of Threads Inc. in Birmingham, Alabama, also a construction fastener distributor which was acquired by WINA in April 2016. A privately-owned company headquartered in Künzelsau, Germany, Würth Group is comprised of more than 400 companies in more than 80 countries. Würth Group employs more than 70,000 people worldwide and generated net sales of €11.8 billion in fiscal 2016. 

Purchase price: not available

 

On November 8, 2017, The Hillman Companies Inc. (“Hillman”) purchased Hargis Industries LP, doing business as ST Fastening Systems (“STFS”). Founded in 1992 and headquartered in Tyler, Texas, STFS designs, manufactures and distributes specialty fasteners and hardware for construction applications. The company’s products are sold to metal building fabricators, hardware wholesalers and building products distributors across the United States. The company’s proprietary product range includes metal-to-metal and metal-to-wood self-drilling screws, along with fastening and sealing products for venting, flashing and roofing applications. A privately-owned company, STFS changed its name from Sealtite Building Fasteners in March 2017. Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a value-added distributor of fasteners, key duplication systems, engraved tag systems and DIY assembly hardware. The company’s customer base includes home improvement centers, national & regional hardware chains, mass merchants and pet supply stores. Hillman supplies more than 26,000 retail customers in the US, Canada, Mexico, South America and Australia. The company employs approximately 3,000 people and generated net sales of $815 million in calendar 2016. Hillman is a portfolio company of CCMP Capital Advisors LP, a New York City-based private equity firm.

Purchase price: not available

 

On December 1, 2017, Bufab AB purchased Kian Soon Mechanical Components Pte. Ltd. (“Kian Soon”). Founded in 1977 and headquartered in Singapore, Kian Soon is a full-service distributor of fasteners and Class C components. The company specializes in providing customers with advanced supply chain management services, including vendor managed inventory, just-in-time deliveries, R&D technical assistance and kitting services. The company has subsidiaries in Indonesia and Malaysia, along with a joint venture in Thailand. Kian Soon employs around 64 people and generated net sales of US$12.7 million in calendar 2016. Founded in 1977 and headquartered in Värnamo, Sweden, Bufab is a full-service distributor of fasteners and Class C components, specializing in providing customers with advanced supply chain management services. The company operates 35 wholly-owned subsidiaries in 25 countries and employs around 1,000 people worldwide. In calendar 2017, Bufab (Nasdaq OMX Stockholm: BUFAB) generated net sales of US$388 million. 

Purchase price: US$10.3 million cash and US$5.4 million of future contingent payments

 

On December 1, 2017, Hodell-Natco Industries Inc. (“Hodell-Natco”) purchased Davco Fastener Inc. Founded in 1986 and headquartered in Twinsburg, Ohio, Davco Fastener is a full-service distributor of fasteners and Class C parts, specializing in providing its predominantly OEM customer base with customized supply chain management solutions. The company supplies a variety of end-user markets including automotive & heavy truck, appliances & food service equipment, electronics & medical devices, firearms & military, windows & doors and oil & gas.

A privately-owned company, Davco Fastener employs more than 25 people and maintains a branch warehouse in Houston, Texas. Founded in 1984 and headquartered in Cleveland, Ohio, Hodell-Natco is a full-service distributor of industrial fasteners and chain products. The company has more than 300,000 square feet of warehouse space and five branches in St. Louis, Missouri; Houston, Texas; Columbia, SC; Orlando, Florida; and Reno, Nevada. The acquisition of Davco Fastener represents a further move by Hodell-Natco away from selling to distribution and into providing advanced supply chain management solutions to OEM end-users. In March 2017, Hodell-Natco sold its “packaged fastener and master distribution division” to Lindstrom LLC.

Purchase price: not available

 

On December 12, 2017, Essentra plc purchased Micro Plastics Inc. Founded in 1961 and headquartered in Flippin, Arkansas, Micro Plastics is a developer and manufacturer of injection molded nylon fasteners and assembly hardware. The company’s product range includes screws, nuts, washers, panel fasteners, spacers, bushings, wire handling clips and many more. A privately-owned company, Micro Plastics operates from a 280,000 square foot manufacturing and office facility in Flippin, along with a satellite plant in Monterrey, Mexico. The company employs more than 450 people and generated net sales of $26.8 million in the fiscal year ended June 30, 2017. Headquartered in Milton Keyes, England, Essentra (London Stock Exchange: ESNT) is a diversified manufacturer of specialty products and components produced from plastic, fiber and foam, along with specialty packaging products. The company operates via three business segments: i) Component Solutions; ii) Filtration Products; and iii) Health & Personal Care Packaging. Essentra operates 48 principal manufacturing facilities in 33 countries and employs more than 8,000 people worldwide. Essentra generated net sales of £998 million (US$1.38 billion) in calendar 2016.

Purchase price: not available

Related Content: https://www.fastenernewsdesk.com/?s=acquisitions

 

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