As of the end of September 2015, 29 fastener companies have completed mergers and acquisitions. Of course, we can't track fastener M&A deals, because many M&A deals involving private companies are not made public. The following is the author's compilation of the most complete details of mergers and acquisitions on the market.
On January 5, 2015, MW Industries Inc. acquired Maudlin & Son Manufacturing Co. Inc. (“Maudlin”). Founded in 1938, Maudlin Company is located in Kema City, Texas (near Houston), specializing in the manufacture of slotted gaskets and pressed springs. Maudlin also has custom chemical plants for metal pressing, water jet cutting, laser cutting and wire EDM cutting . MW Industries specializes in the manufacture of mechanical components including springs, precision pressed parts, special fasteners, turned parts, and custom wire. Headquartered in Rosemont, Illinois (outside Chicago), it had 16 manufacturing divisions in the United States prior to the acquisition of Maudlin. The company is one of the businesses under Genstar Capital LLC. Genstar is a private equity firm based in San Francisco with over $5 billion in capital under management. Merger price: Unavailable.
On January 6, 2015, Aero-Space Southwest Inc. was acquired by Bossard Holding AG (“Bossard Group”). Founded in 1982 and headquartered in Phoenix, Arizona, Aero-Space Southwest distributes fasteners and electronic hardware, specializing in high-quality branded products and value-added supply chain management services. In 2014, its net sales reached US$44 million. Founded in 1831 and headquartered in Zug, Switzerland, the Bossard Group distributes fasteners and C-level parts. It specializes in providing customers with advanced supply chain management services. It employs more than 2,000 employees in more than 60 locations around the world. The net sales in 2014 reached 6.55 billion dollars. The shares of the Bossard Group are traded on the Swiss Stock Exchange. Merger price: Unavailable.
On January 12, 2015, The Home Depot Inc. (“Home Depot”) acquired HD Supply Hardware Solutions (“Hardware Solutions”), a subsidiary of HD Supply Holdings Inc. (“HD Supply”). Hardware Solutions, Inc. (formerly Crown Bolt) supplies fasteners and building hardware to home improvement and building product retailers. In August 2007, Home Depot sold HD Supply to a group of private equity firms. The sale of Hardware Solutions to Home Depot is no surprise, as Home Depot accounts for 98% of Hardware Solutions' annual net sales. In 2014, Hardware Solutions had net sales of $285 million and pre-tax income of $14 million. The Home Depot is the world's largest home improvement specialty retailer, with 2014 net sales of $83.2 billion. HD Supply Corporation is one of the largest industrial distributors in North America, with 2014 net sales of $8.9 billion. M & A price: 200 million US dollars.
On January 16, 2015, Polymathes Capital LLC and C3 Capital Partners LP purchased Precision Aerospace Components Inc. Founded in 2006 and headquartered in Bensalem, Pennsylvania, Precision Aerospace distributes locally produced, high-quality threaded fasteners to the aerospace, industrial and defense, and commercial markets. The company is listed but has not filed earnings with the SEC since September 2013. The company's chief executive retired and all members of the committee resigned as the deal closed. Polymathes, based in Princeton, NJ, manages the investment partners. C3 Capital, based in Kansar, Missouri, manages funds for small business investment firms. After the merger, Polymathes and C3 Capital together own 98.1 percent of Precision Aerospace's outstanding stock. M&A price: US$9.5 million.
On January 20, 2015, Novaria Holdings LLC (“Novaria Group”) acquired John Hassall Inc. Founded in 1907, the privately owned John Hassall Company manufactures hot forged and cold headed bolts, screws, pins, rivets, bushings, ring studs and other critical aircraft components for the commercial aerospace and defense markets, as well as for the automotive and The general industrial market produces bolts, screws, pins, rivets and ring studs. With 82 employees, it has a 65,000 square foot manufacturing facility in Westbury, New York. Novaria Group, located in Fort Worth, Texas, is the aerospace investment platform of Rosewood Private Investments Inc. and Tailwind Advisors LLC. The company also owns Fitz Aerospace Inc. (nuts, bushings and turning parts for aerospace) and Weatherford Aerospace LLC (chemical treatment and turning of aerospace parts). Under the bankruptcy procedure law implemented in 2014, the Novaria Group acquired all the assets of the John Hassall company. M&A price: US$6 million.
On January 26, 2015, Bossard Holding AG (“Bossard Group”) acquired a 60% stake in Torp Fasteners AS. Founded in 1974 and located in Oslo, Norway, Torp Fasteners distributes fasteners and assembly hardware, specializing in high-quality branded products. Distributing products of Accuride, Avdel, AJOT, Kerb-Konus, PEM, Southco, Spirol, Starlock and many other high-quality fastener brands, with an annual net sales of about 9.6 million US dollars, employing 16 employees. After the merger, the original employer and management team will hold a 40% stake in the company. Located in Zug, Switzerland, the Bossard Group distributes fasteners and C-level parts, and provides customers with advanced supply chain management services. It employs more than 2,000 employees in more than 60 countries around the world, and its net sales in 2014 reached 655 million US dollars. . Merger price: Unavailable.
On February 4, 2015, Jinwei Holdings acquired Asia Angel Holding Limited. Asia Angel holds 40% equity of Vietnam Jinwei (not belonging to Jinwei). Founded in 1988 and headquartered in Penang, Malaysia, JW is the largest fastener manufacturer in Malaysia. Its stock is listed on the Bursa Malaysia Stock Exchange (5007.KL). As of the end of June 2015, its annual net sales reached 502.4 million Ringgit (approximately US$119.4 million), 2 factories in Malaysia and 1 factory in Vietnam produce carbon steel threaded fasteners (including male and female screws). Among them, the fasteners produced by the Vietnam factory are mainly sold to DIY retailers in Europe and the United States. The net income in 2015 accounted for about 84% of Jinwei Group. The main asset of Asia Angel is its shareholding in Jinwei, Vietnam. M&A price: RM92 million (approximately US$21.9 million).
On February 9, 2015, MW Industries Inc. acquired Helical Products Company Inc. Founded in 1961 and located in Santa Maria, California, Helical Products manufactures shaft joints, U-joints, and lathe springs for the aerospace, defense, medical, heavy equipment, and general industrial markets. Among them, the Heli-Cal® elastic shaft joint is the most famous. MW Industries is a specialized manufacturer of turning parts, products include springs, precision stamping parts, special fasteners, turning parts, custom wire products. Headquartered in Rosemont, Illinois (outside Chicago), prior to the acquisition, it consisted of 17 manufacturing operations located throughout the United States. Merger price: Unavailable.
On February 23, 2015, Bossard Holding AG (“Bossard Group”) acquired the fastening division of Forind Avio Elettronica Spa (“Forind Fasteners”). Founded in 1968 and located in Milan, Italy, Forind Avio distributes passive electronic components, fasteners and related assembly hardware for the aerospace, electronics, communications and medical industries. The Fasteners division acquired by Bossard Group (renamed Forind Fasteners) is located near Milan, employs 10 employees, and had net sales of $5.3 million in 2014. Bossard is already established in Italy with an office in Lugano (near Milan) employing 20 people. Founded in 1831, Bossard Group is headquartered in Zug, Switzerland. It distributes fasteners and C-level parts, and specializes in providing customers with advanced supply chain management services. The company employs more than 2,000 employees in more than 60 locations around the world. In 2014, the net Sales amounted to 655 million US dollars. The shares of the Bossard Group are traded on the Swiss Stock Exchange (symbol: BOSN). Merger price: Unavailable.
On February 26, 2015, Bufab Holding AB (“Bufab Group”) acquired Flos BV. Founded in 1963 and located in Eindhoven, The Netherlands, Flos is a full-service distributor of fasteners, assembly hardware and C-grade parts. It supplies OEM customers in various industries in the Netherlands and other EU countries. It has 52 employees and its net sales in 2014 were about 17 million euros. Founded in 1977 and headquartered in Sweden, Bufab Group distributes fasteners and C-level parts, and provides customers with advanced supply chain management services. The group employs approximately 850 employees in 23 countries, with net sales of US$260 million in 2014. Its initial public offering was made in February 2014, and its shares are listed on NASDAQ in Stockholm (code BUFAB). Merger price: Unavailable.
On March 2, 2015, Brighton-Best International Inc. acquired EZ Sockets Inc. Founded in 1978 and headquartered in Springfield, New Jersey, EZ Sockets is an importer and primary distributor of socket head screws, supplying to the dealer market in North America. The company is privately held and has five warehouses located in Atlanta, Chicago, Dallas, Portland and Los Angeles. By acquiring the company, Brighton-Best can strengthen itself and eliminate smaller rivals. Brighton-Best, headquartered in Long Beach, California, is the largest importer and first-tier distributor of a full range of fasteners in the United States. It has 32 distribution warehouses, located in the United States (21), Canada (3), Mexico (1) ), Brazil (1), UK (1), Australia (4), New Zealand (1), and is held by an investor group led by Dacheng Stainless Steel Industry Co., Ltd. (Taiwan stock market: 2027). Merger price: Unavailable.
On March 30, 2015, Incline Equity Partners acquired AFC Holdings Inc. from Rockwood Equity Partners LLC. Rockwood was founded in 1987 and is headquartered in Fairfield, Ohio. In February 2012, it reorganized the assets of AFC Industries Inc. and established AFC Holdings. AFC Holdings distributes fasteners and C-grade parts, providing customers with value-added supply chain management solutions. In February 2014, AFC Holdings acquired Dell Fastener Corporation (Dell Fastener for short), which is also a wholesaler of fasteners and C-level parts and a provider of advanced supply chain management services. Dell Fastener is headquartered in Pittsburgh, Pennsylvania, with a warehouse in Marietta, Georgia. Incline Equity is a Pittsburgh-based private equity firm with $300 million in capital under management. Rockwood is a private equity firm based in Cleveland. Merger price: Unavailable.
On March 31, 2015, AVIC International Holding Corp. acquired Align Aerospace Holding Inc. Align Corporation is a global distributor of fasteners and assembly hardware for the military and commercial aerospace markets. Headquartered in Chatsworth, California, with warehouses throughout North America, Europe, and Asia, it provides advanced supply chain management services to customers, mainly aerospace OEMs and their suppliers. AVIC International is the investment platform of the state-owned Aviation Industry Corporation of China (AVIC CHINA). In November 2008, the Aviation Industry Corporation of China established the Aviation Industry Corporation of China in order to integrate aerospace-related businesses. The group has more than 140 subsidiaries and employs more than 500,000 employees. Its main mission is to effectively develop China's indigenous military technology and civil/commercial aerospace capabilities. Align's seller is New York's Greenbriar Equity Group LLC (private equity firm). Greenbriar acquired Align in August 2011 for $185 million. Merger price: Unavailable.
On April 1, 2015, Fastenal Corporation acquired Cardinal Fastener & Specialty Co. Inc. from Würth Industry of North America (“Würth Group”). Founded in 1983 and located in Cleveland, Ohio, Cardinal Corporation manufactures hot-forged and precision-turned large-diameter bolts for oil and gas refining, construction, wind power, heavy equipment, and general industrial applications. In October 2011, the company was acquired by Würth Group for US$3.9 million according to the bankruptcy procedure law. In January 2015, the Würth Group announced that Cardinal's plant in Cleveland would be closed and the production line would be moved to the modern Dokka Fasteners company of the Würth Group in Auburn Hills, Michigan. Following the announcement of the closure, Fastenal Corporation (Nasdaq: FAST) contacted Wurth Group to discuss the Cardinal acquisition price tag. Fastenal is the largest fastener distributor in North America, with 2,637 stores and 14 distribution centers worldwide, with net sales of $3.73 billion in 2014 and more than 18,000 employees. Merger price: Unavailable.
On May 7, 2015, Bossard Holding AG (“Bossard Group”) acquired the self-clinching fasteners division of Titanox Industries SA. Founded in 1975, Titanox is located outside Paris, France. It distributes fasteners and assembly hardware, specializing in high-quality brand products, and supplies them to industries such as electronics, computers and data storage, communications, aerospace, medical, automotive, and home appliances. In this merger and acquisition transaction, Bossard Group has obtained the authorized distribution qualification of Penn Engineering & Manufacturing Corp. (“PEM Company”) through Titanox. PEM Corporation is the world's top manufacturer of self-clinching fasteners and sheet metal fabrication and installation equipment. Through this acquisition, Bossard Group becomes the exclusive distributor of PEM products in the French market. In 2014, the net sales of PEM products distributed by Titanox reached about 6.8 million US dollars. The Bossard Group already has four locations in France and employs 130 people. The group is a value-added reseller of fasteners and C-level parts, employing more than 2,000 employees in more than 60 countries around the world, with net sales of US$655 million in 2014. Merger price: Unavailable.
On May 11, 2015, Platinum Equity LLC acquired PrimeSource Building Products Inc. Founded in 1990 and headquartered in Irvine, Texas, PrimeSource is the largest distributor of non-wood building products in North America, including nails, screws, anchors, staples, pneumatic installation tools, Grip-Rite®, FastenMaster® , Pro-Twist® these three brand names are sold. There are 42 distribution centers in North America, and the annual net sales as of March 28, 2015 reached 1.25 billion US dollars. Founded in 1995 and headquartered in Beverly Hills, California, Platinum Equity is a private equity firm with $6 billion in assets under management. In 2014, the company's portfolio generated net sales of more than $17 billion. The seller from PrimeSource is Tokyo-based ITOCHU Corporation. M & A price: 840 million US dollars.
On May 12, 2015, Universal Supply Company acquired A&C Supply LLC. Founded in 2003 and located in New Jersey, A&C distributes construction fasteners, hand tools, power tools, and general construction products. Following the closing of the transaction, A&C Corporation's management team will remain under a new brand name: "Universal Fasteners". Founded in 1965 and headquartered in Hammonton, New Jersey, Universal Supply distributes high-quality building and home improvement specialty products, specializing in the residential market. Owns 13 stores in New Jersey, employs approximately 250 employees, and is also a subsidiary of US LBM Holdings, LLC. US LBM distributes a wide variety of building materials and has 160 stores/warehouses in 22 states in the United States. Merger price: Unavailable.
On May 13, 2015, Monroe Engineering LLC acquired East Coast Aviation Supply Inc. (ECAS). Founded in 1992, ECAS is headquartered in Melbourne, Florida. It distributes aircraft fasteners, conductive parts, and assembly hardware. It specializes in serving maintenance and operation manufacturers in the general aviation industry in North America. The service objects include fixed-wing aircraft designed for the general aviation industry. Facility for maintenance and overhaul (MRO) with helicopters. Headquartered in Auburn Hills, Michigan, Monroe distributes orientation-specific assembly hardware products including hinges, pulls, handles, fasteners, seals and related assemblies. With offices in Zeeland, Michigan and Portland, Oregon, it is also a portfolio company of Chicago-based private equity firm Ellipse Capital LLC. Merger price: Unavailable.
On May 22, 2015, Birmingham Fastener Inc. acquired the Special Thread Fastener Division of Vulcan Steel Products Inc. (“STF Company”). Located in Pelham, Alabama, STF manufactures anchor bolts, U-bolts, eyebolts, bend bolts, and studs for the North American construction and general industrial markets. Following the closing of the merger transaction, STF's production equipment and inventory were relocated to Birmingham's main manufacturing facility in Birmingham, Alabama. Established in 1980, the privately owned Birmingham Company manufactures and distributes bolts and nuts for the steel construction, water works, oil and gas, heavy equipment and general industrial markets. Birmingham is the largest manufacturer of T-bolts in the United States and a distributor of A325 and A490 structural bolts. Merger price: Unavailable.
On May 25, 2015, Lance Bissett Limited acquired Canadian Industrial Distributors Inc. (“CID Company”). Founded in 1945 and headquartered in Brampton, Ontario, CID is a wholesale distributor of power tools, chain fasteners and related construction products, with offices in Montreal, Quebec and Dartmouth, Nova Scotia, It has two warehouses, employs 39 employees, and had net sales of 15.6 million Canadian dollars in 2014. Founded in 1929 and headquartered in Vancouver, Columbia, The Lance Company is a wholesale distributor of power tools, chain fasteners and construction products with six locations in Columbia and Alberta. According to the Canadian Bankruptcy Procedure Act implemented in February 2014, Lance acquired all the assets of CID. Merger price: Unavailable.
On June 1, 2015, AIP LLC (a business transaction under the name of American Industrial Partners) acquired the OEM fastener division of Anixter International IncIB. Anixter is a global distributor of fasteners, assembly hardware and C-level parts, providing advanced supply chain management solutions for customers in more than 15 countries in North America, Europe and Asia. With 73 locations in 11 countries around the world, employing more than 1,900 employees, the net sales in 2014 reached US$938.5 million, and the profit before interest, tax, depreciation and amortization (EBITDA) reached US$44.8 million. After the merger and acquisition transaction, the merged company will be renamed as Optimas OE Solutions, the original senior management team will remain, and the headquarters of Optimas will also remain on site. American Industrial Partners is a New York-based private equity firm with over $1 billion in capital under management. M & A price: 380 million US dollars.
On June 9, 2015, Novaria Holdings LLC (“Novaria Group”) acquired MacLean Sky LLC (trading under the name Sky Manufacturing) from MacLean-Fogg Component Solutions (“MFCS”). Founded in 1977, Sky Manufacturing is located in Commerce, California. It produces high-strength, fatigue-rated special bolts for aircraft structures. It also produces NAS, MS, AN, AS standard parts, and special parts made according to drawings. Owns a 20,000-square-foot factory building and employs about 50 employees. Novaria Group, located in Fort Worth, Texas, is the aerospace investment platform of Rosewood Private Investments Inc. and Tailwind Advisors LLC, and also holds Fitz Aerospace Inc (manufacturing aerospace nuts, bushings, and turning parts), Weatherford Aerospace LLC Corporation (chemical processing and turning of aerospace parts), John Hassall Inc. (aerospace bolts, screws, bolts, rivets, bushings).
MFCS, Inc., a division of The MacLean-Fogg Company, is a global enterprise with annual net sales in excess of $900 million. In May 2012, MFCS bought Sky Manufacturing. Merger price: Unavailable.
On June 17, 2015, AFC Holdings Inc. acquired Gateway Fasteners Inc. Founded in 1983, Gateway Corporation, located in Pennsylvania (near Pittsburgh), distributes fasteners, C-grade parts and general industrial products, providing value-added services to OEM and MRO customers. After the close of the merger, the combined business of AFC and Gateway will generate approximately $50 million in net sales and will employ 55 employees. Founded in 1987, AFC is headquartered in Fairfield, Ohio. It distributes fasteners and C-level parts and provides customers with advanced supply chain management systems. It is Incline Equity Partners (located in Pittsburgh, with 3 one of its portfolio companies. Merger price: Unavailable.
On June 25, 2015, Herndon Products Inc. acquired MS Inserts & Fasteners Corp. MS Company distributes fasteners and related assembly hardware, mainly for the commercial and aerospace markets. Also included in the acquisition is Thread Kits Company (a wholly owned subsidiary of MS Corporation), which distributes wire thread inserts, bushings, locknuts, pull caps, and thread repair tools. Headquartered in Torrance, California, with warehouses in Sedona, Arizona and Billerica, Massachusetts. Founded in 2003 and headquartered in O'Fallon, Missouri (near St. Louis), Herndon distributes fasteners and assembly hardware, mainly for the military and commercial aerospace markets, and provides customers with advanced supply chain management Systems, with net sales of approximately $76 million in 2014, is one of the portfolio companies of HCI Equity Partners, a private equity firm based in Washington. Merger price: Unavailable.
On July 31, 2015, the company Adolf Würth GmbH & Co. KG (“Würth Group”) acquired Northern Safety & Co. Inc. (business transaction under the name Northern Safety & Industrial). Northern, founded in 1983 and headquartered in Frankfurt, New York, distributes personal protective gear, safety equipment, and general industrial products throughout the United States. The company is privately held, employs more than 470 people in 19 warehousing locations across the U.S., and had net sales of $190 million in 2014. After the merger and acquisition, Northern Company became a business unit of Würth Industry of North America (“WINA”, the largest distributor of fasteners and c-level parts in North America), and will continue to operate under the original company name, with the same workforce as the headquarters. Change. Headquartered in Künzelsau, Germany, the Würth Group is a global manufacturer and distributor of fasteners, assembly parts and general industrial products, employing more than 67,000 employees worldwide, with net sales of 10.1 billion euros in 2014. Merger price: Unavailable.
On August 4, 2015, Steel & Tube Holdings Limited acquired Manufacturing Suppliers Limited (business transactions under the name Fortress Fasteners). Founded in 1980, Fortress is headquartered in Auckland, New Zealand. It is the largest fastener distributor in New Zealand. It has 8 warehouses and employs about 100 employees. It supplies products to a wide range of OEM customers, residential and commercial construction market. Steel & Tube (NZ: STU) is one of the largest steel service center operators in New Zealand, with 48 locations and more than 800 employees. As of June 30, 2015, the annual net sales amounted to 5.02 billion New Zealand dollars (341 million U.S. dollars). M&A price: NZ$32 million (US$21.7 million).
On August 4, 2015, Applied Industrial Technologies Inc. acquired Atlantic Fasteners Inc. Founded in 1981 and located in Agawan, Massachusetts, Atlantic distributes fasteners and C-grade parts primarily to OEM and MRO customers in New Zealand. The employee-owned company, which specializes in advanced supply chain management systems, employs 48 employees and has annual net sales of $13 million. Founded in 1923 and headquartered in Cleveland, Ohio, Applied Corporation (NYSE code: AIT) is a value-added distributor of bearings, power transmission components, fluid power products and a variety of related mechanical parts in North America, Puerto Rico, Australia and New Zealand have a total of more than 560 locations, employing more than 5,800 employees. As of the end of June 2015, the annual net sales reached 2.75 billion US dollars. Atlantic, Applied's first fastener distributor, will become a business unit under Applied Maintenance Supplies & Solutions. Merger price: Unavailable.
On September 1, 2015, WW Grainger Inc. acquired Cromwell Group Holdings Limited (“Cromwell Group”). Founded in 1970 and headquartered in Leicester, UK, Cromwell Group is the largest independent MRO distributor in the UK. The company is a private company that supplies a wide range of industrial products to more than 44 countries on five continents, employs more than 2,150 employees, and has 67 locations in the UK and Europe. As of the end of August 2015, the annual net sales reached 283 million GBP (about 440 million US dollars). Headquartered in Illinois, Grainger (NYSE code: GWW) is the largest distributor of MRO products in North America, with net sales of US$10 billion in 2014. It has 33 distribution centers and 681 locations around the world, employing approximately 23,600 employees . M & A price: 310 million pounds (about 482 million US dollars).
On September 1, 2015, Nord-Lock International AB acquired Boltight Limited. Founded in 1999, Boltight is located in Waltham, UK. It develops, manufactures and distributes bolt hydraulic tensioning products and systems. The products are used in power generation, oil and gas (including onshore and offshore), mining, wind turbines and various general industries. . The company is privately held, employs 18 people and had net sales of approximately £4 million (approximately US$6.2 million) in 2014. Founded in 1982, Nord-Lock is headquartered in Malmö, Sweden. It designs and manufactures patented bolt fastening and bolt tensioning products and systems. The products are mainly used in safety-critical application environments (especially those involving high pressure and / or strong vibration). Nord-Lock is a wholly owned subsidiary of Investment AB Latour (an investment company based in Gothenburg, Sweden; Stockholm: LATO). Merger price: Unavailable.