Fastenal to Acquire Regional Distributor

Fastenal Company announced it has signed an agreement to acquire certain assets of industrial and fastener supply distributor Manufacturer's Supply Company (Mansco).  The company is headquartered in Hudsonville, Michigan and has additional facilities in Madison, Alabama and McAllen, Texas.  The agreement includes several conditions to close, and is expected to close by the end of March.

"I am extremely pleased about the opportunity for the business and our employees to move forward with Fastenal," added Jim Mol, President and owner of Mansco.  "Fastenal brings an enormous supply capability and cost saving technologies to our customers.  This combination will help us grow and better serve our customers, while maintaining the excellent quality and service our customers have come to expect."

Mol has operated the business for the past twenty-five years.  The company focuses on fastener products, with a particularly strong market position with commercial furniture OEMs.  As such, this acquisition gives Fastenal a presence in a market where it has not meaningfully contributed in the past, while providing Mansco with additional tools with which to service its customer base.

Mansco generated approximately $50 million of revenue in 2016, largely from its flagship Michigan location although recent successes with its customers are generating more sales related to its two other facilities.  The company is profitable and the transaction should be accretive in the first twelve months, though it should not be material to earnings per share.

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