Distribution Solutions Group announced Wednesday that it has acquired a Miami distributor in a bid to expand its MRO business.
American Fasteners Corp. provides fasteners, tools, adhesives, abrasives, construction supplies and other products from three locations in South Florida. DSG officials said that the company generates annual revenues of about $39 million.
In addition to bolstering its MRO operations, DSG said that the move would also expand its overall presence and customer base in the South Florida market, as well as provide access to export markets in Latin America and the Caribbean.
American Fasteners officials said that the business would join DSG’s Lawson subsidiary. Financial terms of the transaction were not disclosed.
“American Fasteners is a highly respected business with strong customer relationships and an excellent position in the South Florida market,” DSG Chairman and CEO J. Bryan King said in a statement. “This acquisition is a natural extension of our strategy to build scale in MRO through high-quality businesses that expand our capabilities, customer relationships and geographic reach.”
“Joining DSG and partnering with the Lawson Products team creates exciting opportunities for our long-standing customers and suppliers, and our dedicated employees,” added American Fasteners founder Manny Benitez.
DSG, the no. 16 distributor on ID’s latest Big 50 list, is poised to be taken private by its majority stakeholder, private equity firm LKCM Headwater Investments.
