Fastener distributor Hodell-Natco has acquired Florida counterpart Merit Fasteners, company officials announced.
Cleveland-based Hodell-Natco said that the addition of Merit would expand both its geographic footprint and its service and delivery capabilities. In an announcement posted on LinkedIn, Hodell-Natco officials said that Merit operates facilities in Orlando and Tampa and serves a broad range of markets, including the marine industry and amusement parks.
The deal, which closed Oct. 1, expands Hodell-Natco to eight locations across seven states. Merit’s current management, led by Ritchie Stevens, will continue to run the Florida facilities.
Financial terms were not disclosed.
“By joining forces with Merit, we're expanding our geographic reach, strengthening our capabilities, and welcoming a talented team that shares our values," Hodell-Natco Industries Kevin Reidl said in the announcement.
