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Lawson Products Inc. (NASDAQ:LAWS), Chicago, IL, has acquired The Bolt Supply House Ltd., Calgary, Alberta, for C$40 million (US$32 million).
Founded in 1948, The Bolt Supply House is a distributor of fasteners, power tools and industrial MRO supplies, with annual sales of C$43 million (US$34.4 million). It has 13 branches and 27 sales territory managers that serve companies and tradespeople in Alberta, Saskatchewan and Manitoba, along with 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.
“This transaction marks an important phase of Lawson Products’ growth strategy, acquiring companies that significantly add to our revenue and earnings," said Michael DeCata, president and CEO, Lawson Products. "The acquisition will expand our distribution coverage in Western Canada to provide sales growth opportunities on enhanced regional fulfillment capabilities."