Bridgewood Advisors assists Fastenal with acquisition

Bridgewood Advisors
Bridgewood Advisors Inc. offices.

Milwaukee-based mergers and acquisitions advisory firm Bridgewood Advisors Inc. has advised Fastenal Co. on its recent acquisition of Fasteners Inc.

Bridgewood Advisors
Bridgewood Advisors Inc. offices.

Winona, Minn.-based Fastenal is the largest fastener distributer in North America, with more than $3.8 billion in annual revenue and about 20,000 employees. It has about 2,600 stores and 14 distribution centers in more than 20 countries.

Spokane, Wa.-based Fasteners distributes fastener products and a range of industrial supplies. It has 13 store locations in Washington, Idaho, Oregon and Montana, and expects $36 million in 2015 revenue. The company has about 175 employees.

“We feel this is a great opportunity to grow our operations within the Pacific Northwest,” said Dan Florness, executive vice president and chief financial officer of Fastenal. “Fasteners Inc. shares our same core values of integrity and great customer service, and we believe they will be a great strategic fit within our shared geographic locations.”

“I am extremely excited about the opportunity for the business and our employees to move forward with Fastenal,” said Dennis Hanson, president and owner of Fasteners. “Fastenal brings an enormous supply capability and cost savings technologies to our customers. This union will help us grow and better serve our customers, while maintaining the excellent quality and service our customers expect.”

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Molly Dill, former BizTimes Milwaukee managing editor.

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