Indiana Distributor Announces AcquisitionPosted: Updated:
A global company with North American operations based in Indianapolis has announced an acquisition. W?rth Industry of North America LLC says the deal for Colorado-based Timberline Fasteners helps grow its U.S. footprint, which is mainly in the Midwest and East. May 2, 2014
News ReleaseIndianapolis, Ind. – W?rth Group Acquires Timberline Fasteners
The German based W?rth Group is pleased to announce the acquisition of Colorado based fastener distributor, Timberline Fasteners, the largest fastener distributor in the Rocky Mountain Region. W?rth Timberline is now a part of the Industry Division as a sister company of W?rth Industry of North America (WINA), one of the largest assembly component distributors in the U.S. The acquisition is the first step in the W?rth Group’s plans to double its Industry presence in the U.S. by the year 2020.
Timberline Fasteners, originally A&I Bolt and Nut, was established in 1923 in downtown Denver, CO. Most recently, Timberline's growth and focus has been in both the VMI/OEM sector as well as the packaged, retail hardware/lumber market. Timberline's President, Russ Doran notes that "W?rth's global footprint, strong brand identity and appetite for growth create an energizing environment and attractive opportunity for our employees as well as our customers - and we look forward to proudly promoting our new ownership and renewed ambitions."
WINA has a strong presence in the Midwest and eastern states, but is limited west of the Mississippi River. The addition of W?rth Timberline will allow WINA to advance business into the western part of the U.S., as well as add profitable sales and market penetration and diversification. "The W?rth Group is pleased to add such a high quality company to its portfolio of companies in North America. As we implement our expansion plans, the geographical locations that W?rth Timberline occupies will help us be a more complete supplier to our target customer base. We look to that region of the country to be a lever of growth for us as we seek to double W?rth Industry of North America in size by 2020," says Marc Strandquist, Executive Vice President of the W?rth Group.
W?rth Timberline is headquartered in Commerce City, Colo. with five additional area branch locations. The acquisition adds nearly 80 employees to WINA's head count, bringing the total to almost 1,000.
With W?rth Timberline, WINA now comprises six sister companies, servicing original equipment manufacturers by providing vendor managed inventory (VMI) programs through their proprietary brand, CPS C-Parts Solutions. WINA closed 2013 with over $350 million in sales.
For more information, please visit: www.timberlinefasteners.com or contact Lindsey Myszak at firstname.lastname@example.org.
W?rth Industry of North America is a part of the W?rth Group, a world market leader in its core business, the trade in assembly and fastening material. It currently consists of more than 400 companies in over 80 countries with more than 63,000 employees. Over 30,000 of these are permanently employed sales representatives. The W?rth Group generated EUR 9.98 billion ($13.1 billion) in sales in the business year 2013.
For more information on W?rth Industry of North America and the W?rth Group, please visit the website www.wurthindustry.com.
Source: W?rth Industry of North America LLC.