About the Deal
FASTENAL COMPANY (NASDAQ: FAST), headquartered in Winona, Minnesota, is North America’s largest fastener distributor and the world’s most efficient supplier of OEM, MRO, and construction products. With annual revenues of over $3.8 billion and approximately 20,000 employees, Fastenal operates approximately 2,500 stores and 14 distribution centers in over 20 countries around the world.
MANUFACTURER’S SUPPLY COMPANY (Mansco) focuses on fastener products, with a particularly strong market position with commercial furniture OEMs. Mansco generated approximately $50 million of revenue in 2016, largely from its flagship Michigan location although recent successes with its customers are generating more sales related to its two other facilities.
The acquisition gives Fastenal a presence in a market where it has not meaningfully contributed in the past, while providing Mansco with additional tools with which to service its customer base.
BRIDGEWOOD ADVISORS initiated this transaction, assisted in negotiations, and provided strategic and financial advisory services to Fastenal Company.