CHICAGO--(BUSINESS WIRE)--May 9, 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 F.B. Feeney Hardware in Mississauga,
Ontario, Canada. The transaction closed on May 9, 2016.
F.B. Feeney Hardware has been serving the industrial market in Toronto
and the surrounding area since 1952 and is known as a fleet specialist.
The company’s products and value proposition are similar to that of
Lawson Products’ and include vendor managed inventory services. With
this acquisition, Lawson Products is gaining three experienced sales
representatives.
Tom Feeney, who has led the company for the last 38 years, has agreed to
join Lawson Products. Debra Feeney, who has helped lead the company as
operations manager, will serve as a consultant through the transition.
“This acquisition is a great fit, given our commitment to helping our
customers become more efficient and profitable. We look forward to
leveraging our infrastructure in support of their customers,” said
Michael DeCata, president and chief executive officer, Lawson Products,
Inc.
“We continue to focus on top line growth, and intend to pursue more
excellent opportunities that allow us to grow our sales force and
increase market share,” said DeCata.
“We are pleased F.B. Feeney Hardware is joining Lawson Products, a
leader in the industrial distribution industry and a company that has
demonstrated its commitment to doing business in Canada,” said Tom
Feeney. “Our sales team and customers will benefit from Lawson’s
extensive product offering and robust 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/20160509006375/en/
Source: Lawson Products, Inc.
Media Contact:
Lawson Products, Inc.
Julie Baron
Julie@CommunicationWorks.biz
847-525-3043
or
Investor
Relations:
Lawson Products, Inc.
Ronald J. Knutson
Executive
Vice President, Chief Financial Officer
773-304-5665
Ron.Knutson@lawsonproducts.com
