CHICAGO--(BUSINESS WIRE)--Mar. 7, 2016--
Lawson Products, Inc. (NASDAQ:LAWS) (“Lawson” or the "Company"), a
distributor of products and services to the MRO marketplace, today
announced the acquisition of Perfect Products Company of Michigan. The
transaction closed on March 7, 2016.
Founded in 1959, Perfect Products Company of Michigan is a family-owned
full-service fastener, bolt, nut, clip and screw distribution company
that specializes in offering supplies for domestic and imported
vehicles. Perfect Products serves automotive repair shops, body shops
and industrial clients from Grand Rapids and Detroit, Michigan to
Toledo, Ohio. This acquisition will add four sales reps to Lawson’s
sales team.
“We are delighted to welcome the Perfect Products’ highly experienced
sales force to the Lawson team and we look forward to providing them
with the support, services and systems to achieve even greater success,”
said Michael DeCata, president and chief executive officer, Lawson
Products, Inc. “This acquisition is an excellent strategic fit, with a
similar value proposition to our Kent Automotive brand. As we continue
to focus on top line growth, we will look for more excellent
opportunities like this where we can grow our sales force and leverage
our infrastructure.”
Co-owners Bruce Findlay and Mike Findlay, each with more than 25 years
of selling experience in this industry will stay on as sales reps for
Kent Automotive. Perfect Products’ president Jim Findlay, who will
remain in his role through the transition stated, “We are pleased to
partner with Lawson Products, an organization that has a demonstrated
track record as a leader and expert in the industrial distribution
industry. This transaction will bring us to the next level, expanding
our business while also providing our sales reps and customers with
Lawson’s extensive product offering and support.”
Third Coast Capital Advisors served as financial advisor to Lawson
Products. 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 five 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/20160307006101/en/
Source: Lawson Products, Inc.
Investor Relations:
Lawson Products, Inc.
Ronald J.
Knutson, 773-304-5665
Executive Vice President, Chief Financial
Officer
