ST. LOUIS, Sept. 20, 2018 /PRNewswire/ — Lindstrom, LLC, a Harbour Group company, has acquired Stelfast, Inc., Jeff Fox, Harbour Group’s chairman and chief executive officer, announced today. Terms of the transaction were not disclosed.
Stelfast is a stocking master distributor of fasteners and specialty parts headquartered near Cleveland, Ohio with 10 distribution locations across North America. Founded by Surinder Sakhuja in 1972, it delivered its first fastener products in 1974 and currently serves customers across North America with over 12,000 different products. The entire Stelfast executive team will remain with the business.
“Stelfast focuses on service and flexibility to meet the needs of its distributor customers by offering a broad product line with great customer service,” Mr. Fox said. “As we have gotten to know the team, it has become clear that Stelfast’s customer-first mentality is deeply ingrained in the organization. This mentality aligns well with Lindstrom and the product offering is highly complementary, which will further enable the combined business to meet its customers’ specific needs.”
Neil Yeargin, President & CEO of Lindstrom, commented, “We look forward to partnering with Stelfast to build lasting value for our customers. It is evident both companies share core values in serving our customers with our expansive distribution, secondary processing, and packaging services. This acquisition expands not only our physical footprint and product offering, but also enhances our service levels and ability to meet all of our customers’ needs.”
“We are excited to work with the Lindstrom team as we continue to grow our business and enhance our customer experience,” commented Simmi Sakhuja, President and second-generation owner of Stelfast. “The Lindstrom team and culture are a great fit with Stelfast. These two companies are uniquely suited to serve our customers with an enhanced service capability and we are eager to demonstrate this to the market.”
Lindstrom, LLC is the largest master distributor of specialty fasteners in the United States. The company is headquartered in Blaine, Minn., and has locations in Elgin, Ill.; Greer, S.C.; New Windsor, N.Y.; Grand Prairie, Tex.; Mississauga, Canada; and Cleveland, Ohio. Selling exclusively to distributors, Lindstrom offers products stocked for immediate delivery, specialty parts manufacturing, multiple packaging options, specialty plating, and other value-added services. In addition, Lindstrom is the exclusive master distributor of Bossard Group products in the United States.
About Harbour Group
Harbour Group is a privately owned, operations focused company based in St. Louis, Mo. Harbour Group’s companies are engaged in manufacturing and distribution in multiple industries, including fence and gate systems, interior wallcoverings and fabrics, LED lighting, flow control products, scientific products and lab ware, thermal management solutions, flow and energy measurement, boiler systems, professional diagnostic and repair tools, master distribution of fasteners, and auxiliary plastic processing equipment. Since its founding in 1976, Harbour Group has acquired 202 businesses in 43 different industries.
SOURCE: Harbour GroupAcquisitions, Fastener Press Releases, Fasteners, News