9/6/2016 1:04:00 PM
HEADLINES
Brighton-Best Int’l Going Public in September
BBI History
Brighton-Best traces its history to 1925 as a Cincinnati storefront factory named Brighton Screw Co.
Best Socket Screw was founded by Stan Sevell and Perry Rosenstein four decades later in what is now the SoHo district in Manhattan. In 1971 Sevell and Rosenstein acquired Brighton Socket Screw Manufacturing.
By 1975, Brighton-Best opened a dozen U.S. warehouses. Over the following two decades Brighton-Best opened in Canada, UK, Brazil, New Zealand and Australia.
In 2008 Ta Chen International president Robert Shieh led a consortium of investors from Taiwan in acquiring Brighton-Best.
Brighton-Best International Inc. is becoming a public company.
BBI is expected to be traded over the counter at the Taipei Exchange on Sep. 7, Fastener World reports.
BBI is a subsidiary of Taiwan-based Ta Chen Stainless Steel Group. Ta Chen acquired BBI in 2008, making it one of the world’s largest fastener distributors.
In recent years BBI has made several high-profile acquisitions: NJ-based EZ Sockets in March 2015; Southern California-based Dave Grattan & Sons Inc. / Grattan Fastening Products in August 2014; and, most significantly, Porteous Fastener Co. in 2013.
Ta Chen President Hsieh said he hopes to shape BBI into a “specialized department store” for industrial products.
However, U.S. investors may have trouble buying shares.
Lee Cameron, a New York-based investment counselor, told GlobalFastenerNews.com it takes extra steps for Americans to buy stocks on the Taipei Exchange (GreTai Securities Market).
“Most brokerage accounts are not set up for foreign shares,” Cameron explained. Web: tpex.org.tw
BBI is a master distributor and importer supplying 7,000 distributors through 31 locations in six countries, including the U.S., Canada, Mexico, Brazil, Australia, New Zealand and the UK.
The global headquarters is in Taiwan, and the U.S. headquarters is at 5855 Obispo Ave., Long Beach, CA 90805. Tel: 562 808-8000 Web: brightonbest.com
For more Brighton-Best articles, click on the Fastener History section of GlobalFastenerNews.com:
1991 FIN – Brighton-Best Acquires American Socket Screw
Acquisition includes former Precision Socket Screw.
2007 FIN – Taiwanese Consortium Buys Brighton-Best
Brighton-Best traces history to a Cincinnati storefront factory in 1925.
2013 FIN – Brighton-Best International Acquires Porteous Fastener
Porteous founded in 1966; Brighton-Best traces history to 1925.
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