A fastener manufacturer in the region acquired an out-of-state distributor of consumable, specialty hardware-related products and services.
Kalamazoo-based Midwest Fastener Corp. said last month it acquired substantially all the assets of Northfield, Ohio-based Hy-Ko Products Company through a new, wholly owned subsidiary, Hy-Ko Products Company LLC.
Terms of the deal were not disclosed.
The new company, Hy-Ko Products Company LLC, will be led by the DeVries family owners of Midwest Fastener — including President Andy DeVries. Hy-Ko President Michael Bass and Chair and COO David Kaufman still will be involved.
All employees will remain in place.
“The cultural and business combination makes sense for the new company moving forward,” according to Hy-Ko Products Company LLC.
The acquisition expands Midwest’s and Hy-Ko’s product offering and new market distribution throughout North America. The organizations share a common goal for “superior customer care, long-term growth and increased operational efficiencies,” the new company said.
“The ongoing mission of providing quality products and service to our retail and distribution partners is first and foremost,” Hy-Ko said. “Our global companies will focus on new products, R&D, innovation, supply chain optimization, sales support and leadership.”
Midwest and Hy-Ko combined will have:
- Over 160 sales and service professionals in the U.S., Mexico, the Caribbean and Canada
- Eight distribution, manufacturing, packaging and headquarters facilities in the U.S. and Mexico
- Management of over 75,000 SKUs with a full suite of merchandising, equipment and in-store support
“Our top priority will be to ensure high service levels across all product categories, minimize and eliminate service disruptions while driving profitable sales for our all constituents,” the companies said.
Attorneys Jon Siebers, David Bevins and Tim Dudley, of Grand Rapids-based Rhoades McKee, represented Hy-Ko Products Company LLC in the transaction.
Midwest Fastener Corp.
Founded in 1967, Midwest Fastener is a manufacturer that produces nuts, bolts, anchors, deck and drywall screws, and specialty fasteners.
Hy-Ko Products Company
Established in 1949, Hy-Ko Products Company is a distributor of consumable, specialty hardware-related products and services and supplier of numbers, letters and signs, keys, accessories and electrical specialty products to retailers and wholesalers.