Fastenal Co. (Nasdaq: FAST), Winona, MN, has agreed to acquire industrial and fastener distributor Manufacturer's Supply Co. Terms were not disclosed.
Mansco, as it's called, is based in Hudsonville, MI, with additional facilities in Madison, AL, and McAllen, TX. The company generated $50 million of revenue in 2016, largely from its flagship Michigan location, although it has been generating more sales at its two other facilities, Fastenal said.
"(Mansco) has built a successful business in a challenging fastener distribution market through a focus on customers and a ‘can-do' approach," said Dan Florness, president and CEO of Fastenal. "This speaks to the company's ability to execute and illustrates how well Mansco will fit with our own 'growth through customer service' culture. Our complimentary capabilities make both businesses stronger."
