I’m Lisa Kleinhandler, Editor-in-Chief at Fastener News Desk
It’s ’IN THE NEWS’ week of January 3rd, 2022
Welcome to the New Year!
Watch Now on our YouTube Channel FastenerTV (8:13)
This year is on track to be monumental for the fastener industry as technology, marketplaces, private equity, and attrition have carved a new path for the future of B2B distribution. – FND Editor-in-Chief, Lisa Kleinhandler
In Acquisition News…
AFC Industries has acquired AALL AMERICAN Fastener. Headquartered in Fairfield, OH AFC Industries supplies fasteners and assembly components, specializing in Vendor Managed Inventory solutions (VMI) to manufacturing and assembly plants in a broad range of industrial markets. In April 2021 AFC Industries was acquired by private equity group Bertram Capital (https://bertramcapital.com/)
AFC CEO Kevin Godin explained, “The addition of the AALL AMERICAN Fasteners team to the AFC family will expand our reach into several key growth areas and further establish us in geographies that are important to us.”
Lawson Products, Inc. Announces Strategic Combination with TestEquity & Gexpro Services. Creating a best-in-class specialty distribution holding company with estimated combined pro forma annual revenue of more than $1 billion. Michael DeCata, President and Chief Executive Officer of Lawson said “As the CEO and a fellow shareholder of Lawson, I am excited to be moving forward with the LKCM Headwater team to have an aligned vision and mission of creating a best-in-class specialty distribution holding company. This combination transforms each of our highly complementary businesses, creates a greater level of scale, enables accelerated growth, and expands our competitive advantage”
Genuine Parts Company became the talk of the distribution world in December when it entered into a definitive agreement to acquire Kaman Distribution Group under GPC’s wholly-owned subsidiary, Motion Industries, Inc. The acquisition from private investment firm Littlejohn & Co. has been valued at approximately $1.3 billion in cash, and the transaction is expected to close in the first quarter of 2022. Read more at mdm.com
White Cap Supply Holdings, LLC (“White Cap”) has closed on an agreement to acquire Diamond Tool & Fastener, Inc., (“Diamond Tool”) based in Philadelphia, Pa., with another location in Edgewater Park, N.J. and a distribution center in Bristol, Pa.
In Technology News…
Big NEWS from Bay Supply!
Bay Supply Is Changing Ecommerce for Fastener Brands. Find out why Manufacturers Should Care About B2B Vertical Marketplaces. Bay Supply has been a trusted source for fastener products and equipment for decades. Now Bay Supply is changing the way manufacturers reach customers with the launch of a new buy-now marketplace for fastening product manufacturers, called The Bay Supply Fastener Source and Supply Network. Participation in the Bay Supply Fastener Source and Supply Network is free to manufacturers. Participating companies can upload product information and bulk catalogs, with or without inventory, so they are discoverable by sourcing professionals. Learn more today at BaySupply.com
The Voice of the FCH Sourcing Network Fully Threaded Radio Episode 171 is LIVE! The fastener industry knows how to open its heart when it counts. Jake “Valdez” Davis of BTM Manufacturing and Matt Boyd of Parker Fasteners explain their plan to make a difference. Desert Distribution managing partner Jo Morris looks back on a memorable 2021 and looks ahead with new offerings from the Fastener Training Institute for 2022.Check out the latest episode at FullyThreaded.com
In Fastener Industry Event News….
It’s Session 16 of the Fastener Basics Like Never Before Webinar Series | Fastener Quality Assurance this Friday, January 7 11 a.m. – 12:30 p.m. PT
Whether you are a fastener distributor, importer, manufacturer, or end-user, knowing a few things about fastener quality can prevent a lot of problems. This Fastener Basics webinar will explore fastener quality from the perspective of your Quality Management System (QMS).Get registered today at FastenerTraining.org
In Fastener Industry Association News:
The North Coast Fastener Association has Announced their 2022 Board Members:
PRESIDENT: Dave Audia, @GLHuyett
VICE PRESIDENT: Mike Robinson, Vertex Distribution
TREASURER: Ken Graham, Online Fastener Group
RECORDING SECRETARY: Gary Graham, Online Fastener Group
Visit: https://ncfaonline.com to get more details and find out about upcoming events.
The stories featured in this week’s episode of IN THE NEWS can be found at FastenerNewsDesk.com & on our twitter feed @FastenerNews.
This week’s episode of in the news was sponsored by Product Genius Technology. Enhance customer experience with the new view for industrial product search. Turn your sales team into product genius’s when selling complex product categories online.
Distributors Have a Big Appetite for Better Digital Commerce Technology. Is your product data ready for a great user experience, investors, marketplaces, or eCommerce?
Product Genius Technology services include data cleaning and preparation. Contact ProductGeniusTechnology.com or call 1-800-fasteners to find out how to get started today.
If you would like to share your company’s events or news, or sponsor an upcoming episode of IN THE NEWS, contact me firstname.lastname@example.org.
Thanks for tuning in to this week’s episode of IN THE NEWS with Fastener News Desk.
Until next week, be well, be safe and Keep it Fastenating.
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