It’s long been possible to find bolts and fasteners produced at Portland Bolt and Manufacturing Company’s flagship Oregon factory at projects and facilities across the country and throughout the world.
The company dates back more than a century and counts customers in all 50 states, as well as throughout Canada and in 28 countries overall.
But supplying a global footprint from a single production facility, as the entire industrial sector has learned — sometimes the hard way — can result in stretched supply chains and lengthy shipping times in an increasingly on-demand world.
Portland Bolt is hoping that a recent acquisition will help it meet the demands of today’s manufacturers and construction firms.
The company in June announced its purchase of Southern Anchor Bolt, a South Carolina maker of construction fasteners — particularly its namesake anchor bolts. In addition to bolstering Portland’s line of manufactured and distributed fasteners, the combined operation will also allow the company to reach its entire U.S. customer base in two business days.
Sign at Southern Anchor Bolt's North Augusta, S.C., facility.Southern Anchor Bolt
After more than 70 years, the family of founder JM Llewellyn sold the business. Its new owners had intended to liquidate it entirely, but instead decided to sell only the galvanizing production line and continue with its remaining operations.
Following another sale in the late 1980s, the company moved into its current facility in Northwest Portland, restored galvanizing operations for threaded fasteners, and ventured into the mergers and acquisitions realm, buying and relocating Northwest Bolt & Nut Company from Seattle.
In all that time, Portland Bolt continued to make fasteners solely in its hometown — expanding and, once again, changing ownership. The dramatic shift across the country, however, followed an increasingly familiar refrain throughout the distribution sector: teaming up with a private equity firm.
Endeavour Capital, a Portland-based firm with additional offices in Seattle, Los Angeles and Denver, says it seeks out middle-market founder- or family-owned businesses throughout the Western U.S. Just over two years ago, the company announced its 70th investment to date: a partnership with Portland Bolt's then-CEO Johnathan Todd to provide partial liquidity to shareholders and capital for future growth — including organic growth initiatives and “pursuing strategic M&A.”
Adding Southern, Portland officials said last month, would maintain its industry-leading delivery times, dependability and service from a truly coast-to-coast manufacturing footprint. The South Carolina operations will continue to be led on a day-to-day basis by current Southern President Leslie Yanizeski, who lauded the combination’s potential for both its employees and customers.
Blake Ray, a former Precision Castparts Corporation executive who took over as CEO of Portland Bolt last year, said in the announcement that the newly acquired company’s product quality and position in the industry made for a “good fit.”
“Portland Bolt has a significant customer base on the East Coast, and this acquisition strengthens our ability to provide the best customer service and delivery to new and existing customers,” Ray said.
