The fast-growing distributor in the U.S. upper midwest said the 100,000-square-foot facility will enable it to better serve customers.
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Effective in May, Mike Shumard will become President of tool, fastener and concrete accessory distributor cooperative Sphere 1.
It marks AFC's first deal of 2024 after it made seven acquisitions in 2023.
K2 is a distributor of stainless steel and other corrosion resistant fasteners for industrial purposes and has five branches in Canada.
Non-heavy manufacturing, non-residential construction and reseller end markets outperformed January.
The co-op and hardware distributor will create a combined entity serving DIY entrepreneurs, contractors and distributors in the U.S. Midwest.
It marks the OEM fasteners distributor's 12th acquisition since 2018 and the fifth since 2022.
In 2023, the distributor paid down $160 million of debt and reduced inventory by $100 million while maintaining fill rates above 94%.
Following his three-part article series, we had John Gunderson on the podcast for a deeper dive into Fastenal’s move from a company dependent on a nationwide branch network to one that emphasizes embedded customer service.
It lets Fastenal meet a broader scope of product needs in the aerospace and defense industry, with a focus on precision-machined parts.
The company saw a sharp deceleration in daily sales, hampered by weather impacts during the month.
Automotive fastener manufacturer MEIDOH moves to diversify its business with the addition of Arizona-based Pilgrim Aerospace Fasteners.
Despite the tense global economic and political climate, Germany-based industrial distributor Würth Group's sales grew by 2.4%.
Threadline Products opened a new headquarters to meet growing demand and combine operations of a legacy distribution acquisition.
Illinois-based fasteners distributor Optimas developed its manufacturing and distribution roles to function together.
Fourth quarter sales, profits and margins all edged up from a year earlier, and December daily sales topped November's. Get our in-depth breakdown here.
Hillman's recent entrance into rope and chain will further embed the distributor with its blue-chip customers.
The addition of Sherex will complement PennEngineering's rivet nut brand and provide additional manufacturing capability to Sherex customers.
Jeffrey Koehl succeeds his late father in the role after 26 years with the company.
Mike Hockett extracts commentary from a panel discussion between STAFDA distributors, manufacturers and rep agents.