CHICAGO--(BUSINESS WIRE)--Oct. 1, 2018--
Lawson Products, Inc. (NASDAQ:LAWS),a distributor of
products and services to the MRO marketplace, today announced the
acquisition of Screw Products, Inc. (SPI). The acquisition closed
October 1, 2018. Terms of the transaction were not disclosed.
Based in Dallas, Texas, SPI is a leading regional distributor of bulk
industrial products to large manufacturers and job shops. SPI provides
customized fastener and components packaging, sub-assembly, and kitting
services in its Dallas and Dayton, Ohio warehouses. The company
generates approximately $3 million in revenue.
"SPI’s deep expertise and successful execution in its markets have
yielded strong profitability and sales growth,” said Michael DeCata,
president and chief executive officer, Lawson Products. “This
transaction further reinforces our commitment to being strategically
focused and disciplined in pursuing acquisitions. As a result, Lawson is
well-positioned to further penetrate the job shop/manufacturing market
segment and to grow sales for both SPI and Lawson," said DeCata.
“We are thrilled to join Lawson Products and are excited about the
potential opportunities from leveraging their resources and experience,”
said Bill Marthens, president and chief executive officer, Screw
Products, Inc. “Lawson supports our commitment to a high level of
customer service and to growing our sales profitably. We look forward to
a great future as part of Lawson.”
Key SPI sales and operations employees will continue in their current
roles reporting to Marthens who will oversee the day-to-day operations
as director, segment development, for Lawson Products. Marthens will
report to Shane McCarthy, senior vice president, supply chain and
business development, Lawson Products.
About Lawson Products, Inc.
Founded in 1952, Lawson Products, Inc., headquartered in Chicago, IL,
sells and distributes specialty products to the industrial, commercial,
institutional and government maintenance, repair and operations market
(MRO). The company is dedicated to helping customers in the U.S. and
Canada lower their total cost of operation by increasing productivity
and efficiency. The combination of Lawson Managed Inventory and the
company’s problem-solving professionals ensures customers always have
the right parts to handle the job. Through The
Bolt Supply House, customers in Western Canada have access to
products at several retail branches. Under its Kent
Automotive brand, the company provides collision and mechanical
repair products to the automotive aftermarket.
Lawson
Products ships from several strategically located distribution
centers to customers in all 50 states, Puerto Rico, Canada, Mexico, and
the Caribbean.
For additional information, please visit https://www.lawsonproducts.com/
or https://www.kent-automotive.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181001005934/en/
Source: Lawson Products, Inc.
Lawson Products Media Contact:
Julie Baron
847-525-3043
Julie@CommunicationWorks.biz
or
Investor
Relations Contact:
Lawson Products, Inc.
Ronald J. Knutson
Executive
Vice President, Chief Financial Officer
773-304-5665
Ron.Knutson@lawsonproducts.com
