Germany-based Würth Group – No. 2 on Industrial Distribution's 2015 Big 50 List – announced Friday that it has completed its acquisition of Des Moines Bolt, a Des Moines, Iowa-based distributor of fasteners and supplies. Terms were not disclosed.
Würth Des Moines Bolt is now part of the Industry Division as a member company of Würth Industry of North America (WINA), for which the company is projecting sales of $700 million in 2016.
In a release, Würth said that with locations in Iowa, Missouri and Nebraska, Des Moines Bolt has more than 35 years of experience supplying a vast array of industrial fastener products, and variety of services including EDI, bar coding, kitting and packaging, inventory management, delivery services, and more.
"The addition of Würth Des Moines Bolt allows WINA to aggressively continue our strategy of expanding business west of the Mississippi River, as well as acquiring high quality, profitable companies," said Marc Strandquist, Würth executive vice president. "Acquiring companies like Würth Des Moines Bolt supports this kind of growth as we seek to triple our 2013 sales and reach sales of $1 billion by 2020."
Des Moines Bolt was started in 1978 by the Simmer family. Their eight distribution locations across the Midwest include approximately 180,000 of square-footage. The acquisition also adds 95 employees, and more than 1,100 customers to WINA.
"We are very excited to be part of the Würth Group and their family of companies," said Keven Simmer, Des Moines Bolt president. "Würth's global reach and product depth allows us to build on our one source convenience mentality. Whether it's a box of hex bolts, a bin of rivet nuts, or a pair of safety gloves, we will be able to provide solutions that meet our customer’s ever evolving needs."
The acquisition is the third for WINA in the last two years. The WINA Group now is comprised of the following North American companies: Würth Adams - Brooklyn Park, MN; Würth Des Moines Bolt -Des Moines, IA; Würth Revcar - Roanoke, VA; Würth Service Supply - Indianapolis, IN; Würth Snider - Louisville, KY; Würth Timberline - Commerce City, CO; Marine Fastener - Sanford, FL; and Northern Safety and Industrial - Frankfort, NY.