PrimeSource acquires California fastener supplier
PrimeSource Building Products has made its second acquisition this year, purchasing Compass International, an Anaheim, Calif.-based fastener manufacturer, for an undisclosed sum.
Compass is best known for its Marker brand of screws for drywall, sheet metal, wood and cement, as well as Marker steel fasteners and driver accessories. Other brands include Dart self drilling screws, Deck mark deck fasteners and Tapmark concrete accessories.
Founded in 1973, Compass also operates locations in Des Plaines, Ill. (near Chicago); Spring, Texas (outside of Houston); and Doraville, Ga. (near Atlanta).
PrimeSource said it will consolidate the Compass products under its Pro-Twist brand and extend its distribution coast to coast. Based in Carrollton, Texas, PrimeSource has 37 distribution centers through out the United States and Canada. Sales in 2007 were an estimated $1.7 billion, a 21.4 percent jump over the previous year’s, according to the Home Channel News Top 150 Distributors Scoreboard.
Earlier this year, PrimeSource acquired 3-G Supply, a Cleveland fastener wholesaler that served Michigan, Indiana and parts of Kentucky and Pennsylvania. 3-G also operated a warehouse in East Brunswick, N.J.
Compass International is the second West Coast company purchased by PrimeSource in the last 12 months. In the fall of 2007, PrimeSource acquired Pacific Steel and Supply, one of the largest independent nail distributors in the West, with warehouses in California and Washington State.
In addition to its Pro-Twist and Grip-Rite brands, PrimeSource carries a full line of building materials , including tools , compressors , fencing, house wrap, insulation, roofing, rebar and drywall.
Handy Hardware fully operational after Hurricane Ike
Less than a week after Hurricane Ike struck the Texas Gulf Coast, Handy Hardware Wholesale, is operating at full capacity, the Houston-based company announced.
“We have resumed all normal delivery schedules and continue to focus on the service to our member-dealers, as well as our employees in the aftermath of such a horrible natural disaster,” Handy Hardware president Tina Kirbie said.
According to Mickey Schulte, vp-marketing and purchasing, there was minimal damage to the operation, which allowed the distributor to focus on the needs of its member-dealers. “Our fleet suffered no damage, and we had limited damage to our inventory. The minor repairs to the roof of our 560,000-square-foot warehouse are already complete,” he said.
Established in 1961, Handy Hardware Wholesale operates in 10 states, mostly in the South and Southeast.
Lowe’s, NASCAR’s Johnson raising money for Ike victims
Lowe’s, along with NASCAR driver Jimmie Johnson, will be raising money for victims of Hurricane Ike when Johnson participates in the NASCAR Spring Cup Race this weekend at Dover International Speedway in Delaware.
Through “Racing for Relief,” Lowe’s will donate $48 for every lap of the scheduled 400 laps that Johnson completes to the American Red Cross to help provide shelter, food, counseling and other assistance to victims of Ike and other 2008 hurricanes. In addition, if Johnson wins the race, Lowe’s will donate an additional $4,800.
As part of the promotion, the Red Cross logo will be displayed on the deck lid of Johnson’s No. 48 Lowe’s Impala.
Funds raised through Lowe’s Racing for Relief will supplement an existing $1 million Lowe’s donation to the American Red Cross. More than 1,575 Lowe’s stores nationwide are serving as official cash donation sites to benefit the American Red Cross relief efforts throughout the 2008 hurricane season. Lowe’s will match in-store contributions dollar-for-dollar, up to $250,000.
Since partnering with the Red Cross in 1999, Lowe’s has raised more than $17.5 million for disaster relief.