Posted October 9, 2015

Fastenal to acquire Fasteners Inc.

Spokane-based company has 13 stores and $36 million in revenues.

Fastenal Company has signed an agreement to acquire certain assets of Fasteners Inc., a regional industrial and construction supply distributor with store locations in Washington, Idaho, Oregon, and Montana.

The acquisition is expected to close by the end of October.

"We feel this is a great opportunity to grow our operations within the Pacific Northwest," said Dan Florness, executive vice-president and CFO of Fastenal. "Fasteners Inc. shares our same core values of integrity and great customer service, and we believe they will be a great strategic fit within our shared geographic locations."

"I am extremely excited about the opportunity for the business and our employees to move forward with Fastenal," added Dennis Hanson, president and owner of Fasteners Inc. "Fastenal brings an enormous supply capability and cost savings technologies to our customers. This union will help us grow and better serve our customers, while maintaining the excellent quality and service our customers expect."

Fasteners Inc. was founded in Spokane, Wash., in September 1961. The company focuses on fastener products, but also sells a broad range of industrial supplies. The company has grown its business over the years to include 13 store locations and anticipates 2015 revenues of approximately $36 million.