Alaska Rubber Group, an employee-owned independent industrial distribution company in Anchorage, has acquired Industrial Supply Inc. of Bellingham, Washington.
The acquisition is expected to expand Alaska Rubber Group’s branch locations to a dozen across Alaska, Washington and Oregon.
Financial terms were not announced.
“Industrial Supply Inc. is an excellent fit for ARG,” said Mike Mortensen, president and CEO. “The location is perfect and will allow us to better serve the rapidly expanding industrial market between our Everett WA location and the Canadian border. We are picking up several new product lines with this acquisition, and we’re also getting another location with rigging and lifting product fabrication capabilities. This allows us to grow that part of our business outside of Alaska, into the Pacific Northwest. More importantly, the team at ISI and the culture Rod and Dave have fostered are an excellent addition to our employee ownership model.”
Industrial Supply has been owned and operated by Rod Jackson and Dave Clark since 2007. Alaska Rubber Group said both Jackson and Clark will remain “engaged in the success of the location” and lead their team to further growth and participation in employee ownership as part of the Alaska Rubber Group.