Lawson’s fourth acquisition in 14 months
CHICAGO--(BUSINESS WIRE)--Nov. 15, 2016--
Lawson Products, Inc. (NASDAQ:LAWS), a distributor of products
and services to the MRO and automotive marketplaces, today announced it
has completed the acquisition of Mattic Industries Limited, a
Vancouver-based distribution company.
Founded in 1982, Mattic Industries is a leading distributor of rivets,
fasteners and other industrial components throughout Western Canada.
Similar to Lawson, the company also provides vendor managed inventory
(VMI) services to customers.
Mattic has distribution centers in Surrey, British Columbia and Calgary,
Alberta. Lawson Products gains 18 employees, including 10 sales
representatives with the acquisition.
“Mattic has strong, long-lasting customer relationships and its
employees are known for their deep product knowledge of fasteners and
applications for the trucking industry,” said Michael DeCata, president
and chief executive officer, Lawson Products.
“This acquisition complements both companies’ strengths in providing
outstanding customer service, particularly within fleet management and
the oil and gas industry. We’ve expanded Lawson’s footprint in North
America and are positioned to immediately grow this business and
capitalize on the Canadian market opportunity,” DeCata said.
“I’m proud of the Mattic team’s achievements and I’m thrilled to have
found in Lawson a company that shares our values and our focus on being
close to customers to meet their needs,” said John Matthew, president
and founder, Mattic Industries.
Key sales and management members will continue in their leadership
roles. John Matthew will remain on board during the transition. Third
Coast Capital Advisors served as financial advisor to Lawson Products.
Lawson Products’ acquisition of Mattic Industries closed November 15,
2016. Transaction consideration was not disclosed.
About Lawson Products, Inc.
Founded in 1952, Lawson Products (NASDAQ:LAWS) is an industrial
distributor of maintenance and repair products. Lawson carries a
comprehensive line of products and provides inventory management
services to the industrial, commercial, institutional and government
maintenance, repair and operations (MRO) market. With several
strategically located distribution centers in North America, Lawson
ships to customers in all 50 states, Puerto Rico, Canada, Mexico and the
Caribbean. Under its Kent Automotive brand, the Company supplies
products to collision and mechanical repair shops as well as automotive
OEMs. For additional information, please visit https://www.lawsonproducts.com
or https://www.kent-automotive.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161115006581/en/
Source: Lawson Products, Inc.
Media Contact:
Lawson Products, Inc.
Julie Baron
847-525-3043
Julie@CommunicationWorks.biz
or
Investor
Relations:
Lawson Products, Inc.
Ronald J. Knutson
Executive
Vice President, Chief Financial Officer
773-304-5665
Ron.Knutson@lawsonproducts.com
