Fastenal to acquire Manufacturer’s Supply Company
Fastenal Company has agreed to acquire certain assets of Manufacturer's Supply Company (Mansco), a regional industrial and fastener supply distributor headquartered in Hudsonville, Michigan.
"From our first discussions, we were impressed with the Mansco team,” said Dan Florness, President and CEO of Fastenal. “It has built a successful business in a challenging fastener distribution market through a focus on customers and a ‘can-do’ approach. This speaks to the company’s ability to execute and illustrates how well Mansco will fit with our own “growth through customer service” culture. We look forward to welcoming Mansco to the Fastenal family. Our complimentary capabilities make both businesses stronger.”
Mansco has additional facilities in Madison, Alabama and McAllen, Texas. It specializes in fastener products, particularly in commercial furniture OEMs, an area of future growth for Fastenal.
"I am extremely pleased about the opportunity for the business and our employees to move forward with Fastenal," added Jim Mol, president and owner of Mansco. “Fastenal brings an enormous supply capability and cost saving technologies to our customers. This combination will help us grow and better serve our customers, while maintaining the excellent quality and service our customers have come to expect."
Mansco generated approximately $50 million of revenue in 2016, largely from its flagship Michigan location. The transaction is expected to be accretive in the first 12 months, though it should not be material to earnings per share.
The agreement includes several conditions to close, and it's expected to close by the end of March.
And the MRO winner is Maintenance Supply Headquarters
World and Main, LLC announced that Houston, Texas based Maintenance Supply Headquarters was honored with the 2016 Top MRO Sales Growth award.
This first annual award organized by World and Main, recognizes their distributor customers that lead the pack in MRO category sales for the calendar year. This year’s award presentation took place at Maintenance Supply Headquarters’ new Houston, Texas.
Participating were Kristen Rogers, director, National Accounts-MRO, World and Main; Rob Lewis from Strategic Marketing Group; and Alan Upchurch, director of merchandising from Maintenance Supply Headquarters.
Beacon acquires Acme Building Materials
Beacon Roofing Supply has acquired Acme Building Materials, Inc., a Michigan-based distributor of residential roofing and related building products.
A third-generation, family-owned business, Acme maintains three branches in Eastern Michigan: Flint, Rochester Hills and Brighton.
“I am delighted to be joining forces with Beacon, which continues to build a strong presence in Michigan through its acquisition of family owned businesses, like Acme," said Acme president and co-owner Lori Tesner. "We selected Beacon because its size and reputation will enable Acme to provide better service and a broader offering of products to our customers. Beacon has also demonstrated throughout the years that it promotes the entrepreneurial spirit of a family business while utilizing the strengths and opportunities of a major public company. Beacon provides unique growth opportunities for us and we look forward to being a part of Beacon’s future growth and success.”
With this new acquisition, Beacon's Michigan location count now stands at ten. Across 47 states and six Canadian provinces, Beacon operates 375 branches.
"Acme is a great addition to Beacon and strengthens our residential and complementary business in Michigan, which is an important market for Beacon," said Beacon president and CEO Paul Isabella. "The Yurk and Tesner families have built a great company with a loyal customer base and experienced employees and we are grateful that Lori Tesner and Bob Yurk chose to align with Beacon and continue their careers with us. The entire Acme team will be instrumental in our continued success in Michigan and we are thrilled to have them as part of Beacon.”