Cleveland, OH-based Applied Industrial Technologies – No. 13 on Industrial Distribution's 2014 Big 50 List – announced Tuesday that it has acquired Agawam, MA-based Atlantic Fasteners, a 100 percent employee-owned distributor of C-Class consumables. Terms were not disclosed.
Founded in 1981, Atlantic Fasteners supplies the New England region with industrial fasteners and related industrial supplies, as well as vendor managed inventory systems.
"Atlantic Fasteners provides the market presence, products and capabilities to further enhance our Applied Maintenance Supplies & Solutions (Applied MSS) offering to a broad array of industrial customers," said Neil A. Schrimsher, Applied President & CEO. "They are an ideal fit with our business strategy and growth plans."
"We are pleased to welcome Atlantic Fasteners to Applied and are excited about the opportunities and success we can realize together," added Todd Barlett, Applied VP of Acquisitions.
