Lawson Products, a distributor of products and services to the MRO marketplace, has announced the acquisition of Screw Products Inc. (SPI). The acquisition closed Oct. 1. Terms of the transaction were not disclosed.
Based in Dallas, Texas, SPI is a 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 CEO, 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.”
“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 CEO of 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.