4/28/2014 5:32:00 PM
HEADLINES
LoneStar Acquires UK Fastener Manufacturer Hydrobolt

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LoneStar Fasteners Europe acquired UK fastener manufacturer Hydrobolt for an undisclosed sum.

“We believe this is a great opportunity for LoneStar Fasteners Europe (LSFE) and Hydrobolt to work together to expand product offering to our respective customers, offer more compelling value propositions and increase our presence in the global energy market,” stated LoneStar Group.

Under the deal, Hydrobolt will remain a separate entity and trade under the Hydrobolt name.  The company will continue to be run by the current Hydrobolt senior management team, led by Jamie Simpson, who will report directly to LoneStar Group CEO Santosh Mathilakath.

LoneStar Fasteners Europe was formed when parent company LoneStar Group aligned PRD Fasteners, Eurofast Petrochemical Supplies and Triplefast International as one company.

LoneStar Fasteners Europe is led by Stuart Roden and is moving to the new facility at Universal Point.

“The move will align our UK fastener businesses of PRD Fasteners, Eurofast Petrochemical Supplies and Triplefast International as one company to create a European centre of excellence for the manufacture & distribution of Special & Non-Standard Fasteners and Gaskets,” stated Roden.

LoneStar Fasteners Europe will service the combined customer base as one company operating from one location. 

“The consolidated site will provide an opportunity for us to increase our on-site manufacturing, testing and heat treatment facilities with additional investment in new machinery and technology to meet the increasing high levels of product integrity and compliance of our customers.”

LSFE is increasing its warehousing pallet and bar racking locations by over 25% and investing in additional standard petrochemical stock, pushing its combined raw material and finished goods stock to over £7.5M.

Completion of the move to the new site is slated for 30th September 2014, after which the existing 3 sites will close. Web: lonestargroup.com ©2014 GlobalFastenerNews.com