Martin Fastening Solutions, a subsidiary of Florence, Alabama-based Martin Inc., on Tuesday announced the acquisition of Capital Bolt & Screw (CB&S), Jackson, Mississippi. Financial terms of the deal weren’t disclosed.
Founded in 1963, CB&S is a privately held distributor of fasteners. Jerry Gibson, president of CB&S, purchased the company in 1981 and has grown it into an OEM fastening distributor with services that include vender managed inventory (VMI), 3PL services for international customers and integrated services.
“For 40 years, CB&S has held true to our core value of appreciating customer relationships and operating all aspects of our business with the utmost integrity,” Gibson said. “When we decided to sell CB&S, we wanted to ensure our customers would continue to receive that same level of outstanding service. We’ve found that with Martin.”
In 1997, Martin added the Fastening Solutions line of business to its operations with headquarters in Jackson, Tennessee.
“We’ve invested heavily in our OEM/Fastening Solutions business unit over the last five years and established a foundation we can build on,” said Douglas Ruggles, co-owner of Martin Inc. and president, Martin Fastening. “The next step in our evolution has been to look for the right distributor to join our current business and help us expand our OEM fastener footprint and customer base. I knew CB&S was a great fit from the start. Their core values and ours line up seamlessly. We cannot be happier to have the entire CB&S Team become part of the Martin Team and to offer our complete portfolio of products and services to their customers to help them operate better.”
CB&S is the fourth acquisition for Martin in the past two years.