SEPTEMBER 30, 2021
LindFast Acquisition Announcement from CEO, Bill Niketas
I am very pleased to announce that LindFast Solutions Group (LSG) has completed the purchase of Solution Industries today. As you already know, Solution Industries is a great company that has decades of experience in fasteners and has the same relentless focus on meeting the customers’ needs that we do at LindFast.
I am confident Solution will be a great addition to our team, we will all learn a great deal from each other, and together we will serve our customers even better together. Solution has a very strong position in the value-added services portion of our business. We are excited for the opportunity to learn from them and expand their capabilities while they can now leverage the significant supply chain capabilities and distribution network that LindFast offers. We think this combination is very powerful and will be a benefit for our customers, suppliers, employees, and others.
To our external stakeholders: customers, suppliers, and other partners, we expect very little will change in the near term. Our goal is to maintain the strong Solution Industries brand in the market and the relentless focus on creating solutions for our customers. As a result, very little on the front end/customer facing aspects of the business will change. For the foreseeable future we will continue to operate out of the existing facility in Strongsville, OH, will remain on the same ERP system, and will extend the same policies in place now. As many of you know, LindFast also operates two other facilities in the Cleveland area. Over time, we hope to be able to consolidate facilities in order to better serve our customers with even more efficient freight options for combined orders. We will keep you posted as these opportunities develop.
Again, we are very excited to be welcoming Solution Industries to our LindFast team. We believe the combination will be a powerful force to better serve our customers.
About LindFast Solutions Group
Headquartered in Blaine, MN, LindFast is a master distributor of specialty fasteners in the North American market serving a broad base of national, regional, and local distribution customers through its metric (Lindstrom) and imperial (Stelfast) product brands.
As a master distributor, LindFast provides an important link in the fastener supply chain by offering a deep inventory as a “virtual warehouse” of approximately 130,000 low volume, slow moving SKUs that distribution customers need quickly but are non-economical to inventory and source ourselves. These SKUs represent high‐touch, specialty products that can be difficult to source due to their unique length, diameter, thread pitch, metal choice, or finish.
In addition to our unique product offering and virtual warehouse services, LindFast provides our distribution customers a range of value‐added services such as break bulk, packaging, kitting, plating, coating, and guaranteed stock programs, among others.
About Solution Industries
Combines over 100 years of fastener experience with an eagerness to help solve the difficult challenges your business faces every day. It’s our attention to detail and commitment to excellence that sets us apart from our competition. We pride ourselves in being a leader in fastener distribution, getting you the parts you need faster and more affordably than the competition.
