Confronted with complex business challenges over the past few years due to the global pandemic, economic shifts, and supply chain challenges, business owners throughout the fastener industry look to M&A to help boost the value of their organization, add additional product lines and distribution channels, create additional geographical footprints, increase revenue and more.

January 1, 2023 – March 1, 2023, saw mergers and acquisitions throughout the fastener industry in the double digits, with more being announced on an almost weekly basis, the continued rapid volume of activity has shown to be a contributing force for growth in the market.

Here are the mergers and acquisitions from the first three months of 2023:

Birmingham Fastener acquires Pacific Coast Bolt

With over 80 years of combined fastener production, this acquisition strengthens Birmingham Fastener’s manufacturing diversity and expands its U.S. footprint coast-to-coast with branches from New York to California. – Read the full press release here

Field Fastener merges with Mid-State Bolt & Nut Company

This strategic partnership will enhance the combined position in North America by expanding the products, services, and geographical footprint in which both Field Fastener and Mid-State Bolt & Nut Company service customers. Both companies become stronger by being together, and more equipped to support current and prospective customers while providing technical services to drive short and long-term cost savings. – Read the full press release here

AFC Industries acquires PF Markey

Aspects like alignment, culture, and go-to-market strategy made AFC the perfect fit for PF Markey, a company who has grown to be one of the most innovative and capable distributors of cutting tools, abrasives, and other plant supplies in the country.  – Read more in this MDM News article

Mill Steel Co. acquires Cleveland Metal Exchange

This acquisition expands Mill Steel Co. into the flat-rolled stainless steel and aluminum metal markets. Mill Steel plans to leverage its vast processing footprint and dedicated carrier network along with CME’s extensive supply chain to bring competitively priced aluminum and stainless products to market. This represents the largest acquisition to date for Mill Steel Co. – Read the full press release here

GMS acquires Tanner Bolt and Nut

To continue its continued execution of its platform expansion strategy in the New York City market, GMS Inc., a leading North American specialty building products distributor, acquired the Brooklyn-based Tanner Bolt and Nut Inc., who holds a  40+ year legacy in the market. “With Tanner’s focus on tools and fasteners, these additions, along with the establishment of several new greenfield yard locations and AMES stores over the last several months, represent our continued commitment to the execution of our strategic priorities of platform expansion and complementary product growth,” said GMS President and CEO, John C. Turner, Jr. – Read the full press release here

Fasteners Inc. acquires Monroe Engineering

Chad Comroe, Managing Director – M&A from Generational Equity who assisted with the transaction had this to say: “The Fasteners’ shareholders were intent on finding a buyer that would create opportunities for the future success of the employees. Monroe fit the bill, and everyone is excited for the next stage of growth.” – Read the full press release here

MSC Industrial Supply acquires Buckeye Industrial and Tru-Edge Grinding

MSC Industrial Supply Co. a distributor of metalworking and maintenance, repair and operations supplies to industrial customers throughout North America, announced that it has acquired Buckeye Industrial Supply Co., an independent metalworking distributor based in Columbus, Ohio, and Tru-Edge Grinding Inc., a St. Henry, Ohio-based custom tool manufacturer, separate companies with shared ownership. MSC intends to develop on Buckeye’s technical, high-touch relationships and value-added services by offering customers access to its 2 million-plus product portfolio to support their full metalworking and MRO needs as well as drive eCommerce revenue through mscdirect.com. Tru-Edge Grinding brings new capabilities in tool manufacturing to MSC. – Read the full press release here

Timken acquires American Roller Bearing

The Timken Company, a global leader in engineered bearings and industrial motion products, has acquired the assets of American Roller Bearing Company, a North Carolina-based manufacturer of industrial bearings. Contributing factors like end-market mix, customer base and aftermarket position fit the Timken business model exceptionally well. – Read the full press release here

Colony Hardware acquires New South Construction Supply

In a move to expand their footprint across the Southeast, Colony Hardware has acquired New South Construction Supply. “Colony Hardware has positioned itself as the direct-to-jobsite supplier of choice for contractors,’’ said Young Lee, Managing Director of Audax Private Equity. “The deal for New South is aligned to our investment thesis to support Colony’s growth through both strategic acquisitions and organic initiatives.” New South shared in the sentiment, “With Colony’s leadership and reputation, I look forward to seeing New South continue on its growth trajectory with Colony’s backing. The future is bright for our business, our associates and the loyal customers of New South and Colony Hardware,” said Jim Sobeck, CEO of New South. The acquisition represents Colony’s 12th acquisition since partnering with Audax Private Equity in November of 2018. – Read the full press release here

Torque Capital Group acquires Metal Forming & Coining Corporation (MFC/Netform)

Tim Cripsey, who has nearly two decades of senior leadership with MFC/Netform and has transitioned to the role of President post-closing, is looking forward to the partnership with Torque as it will allow the company and talented team at MFC/Netform the opportunity for their next phase of growth and “to continue enhancing and expanding our offerings.” –  Read the full press release here  

Wrought Washer acquires Diversified Tooling Innovations Inc.

Milwaukee’s Wrought Washer, manufacturer of washers, bushings and spacers, has completed the acquisition of Diversified Tooling Innovations; this transaction expands and strengthens Wrought Washer’s CNC and tooling capabilities with Diversified Tooling being utilized as the primary source for machining.  – Read more in this Fastener News Desk article

AFC Industries Acquires Motor City Industrial

Making its second appearance on the list, AFC completed its acquisition of Motor City Industrial. “What most impressed us though was the (Motor City Industrial) team and the commitment they have to providing excellent service to customers. Whenever we can add experienced and talented people who are already aligned with our culture, good things happen,” said AFC CEO, Kevin Godin. The current team at Motor City Industrial also shared their excitement in moving the business forward, with Motor City Industrial’s CEO, Joe Stephens saying, “Joining the AFC team allows us to bring additional resources and scale to continue to build on what has made us successful and open additional opportunities for our customers and employees.” – Read more in this Industrial Distribution article