Lawson Products acquires Canadian fastener distributor The Bolt Supply House Ltd.
Transaction marks Lawson Products’ fifth and largest acquisition in 24 months, more than doubles sales in Canada.
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Lawson Products, a distributor of products and services to the MRO marketplace, has announced the acquisition of The Bolt Supply House Ltd., based in Calgary, Canada, for a purchase price of approximately $32 million.
Founded in 1948, The Bolt Supply House Ltd., owned by John J. McCann and W. Brett Wilson, is a leading Canadian distributor of high quality fasteners, power tools and industrial MRO supplies, with annual sales of approximately $34 million. The Bolt Supply House’s 13 branch locations and 27 sales territory managers serve companies and professional tradespeople in Alberta, Saskatchewan, and Manitoba, Canada. The company packages and ships products from a 43,000 square-foot distribution center in Calgary. The Bolt Supply House will operate under its brand as a subsidiary corporation of Lawson Products’ Canadian operating company.
The transaction marks Lawson Products’ fifth and largest acquisition in 24 months and more than doubles its sales in Canada.
Michael DeCata, president and chief executive officer of Lawson Products, Inc. said, “This transaction marks an important phase of Lawson Products’ growth strategy, acquiring companies that significantly add to our revenue and earnings. The acquisition will expand our distribution coverage in Western Canada to provide sales growth opportunities on enhanced regional fulfillment capabilities.”
John J. McCann, chief executive officer and principal shareholder of The Bolt Supply House, said, “We selected Lawson because of their industry leadership, commitment to operational excellence and their focus on both employee and customer relationships. The two companies are now positioned to further capitalize on geographic growth opportunities.”
Kurt Mario, president of The Bolt Supply House, will continue to lead the company post-closing. Key sales and management members will continue in their existing leadership roles. The Bolt Supply House will continue to operate under its go-to-market strategy, with branch locations and sales territory managers. The Lawson Products and Kent Automotive businesses will continue with their sales rep based model, focusing on providing technical knowledge and vendor managed inventory services.
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