12/10/2009
Fastenal to Buy Holo-Krome from Danaher

Fastenal Company announced it has signed an agreement to acquire certain assets of socket head screw product manufacturer Holo-Krome.

The deal is scheduled to close December 18, 2009. Terms were not disclosed.

Holo-Krome was part of Danaher’s Tool Group, which includes Matco Tools, Jacobs Chuck Mfg., Delta Consolidated Industries, Jacobs Vehicle Systems and Hennessy Industries.

During the first nine months of 2009, sales at Danaher’s Tools and Components segment, including fasteners, fell 21% to $772.2 million, while operating profit declined 25% to $95.3 million.

Holo-Krome’s 2008 sales total less than 1% of Fastenal’s $2.34 billion in 2008 sales.

“The Holo-Krome brand has been synonymous with quality and reliability for 80 years,” Fastenal CEO Will Oberton commented. “We believe it will be an excellent addition to Fastenal’s expansive product offering and aligns very well with our mission of ‘Growth through Customer Service.'”

“This is a great opportunity for Holo-Krome to continue its legacy,” Holo-Krome national sales manager Charles LaBove said. “Armed with Fastenal’s deep desire to add investment, we’re looking forward to providing an expanded product offering to serve new and existing customers.”

Founded in 1929, Holo-Krome began by manufacturing socket screws by the then-new technique of metal forming, or heading, rather than machining. Subsequently Holo-Krome developed its Thermo-Forged process designed to be more precise, have greater strength and provide higher fatigue resistance.

Based in West Hartford, CT, Holo-Krome today manufactures grade 12.9 socket screw products.

Winona, MN-based Fastenal sells industrial and construction supplies including threaded fasteners and miscellaneous supplies; tools; metal cutting tool blades and abrasives; fluid transfer components and accessories for hydraulic and pneumatic power; material handling; storage and packaging products; janitorial, chemical and paint products; electrical supplies; welding supplies; safety supplies; and metals, alloys and materials.

As of November, Fastenal operated 2,357 stores in all 50 states and Canadian provinces; Puerto Rico; Mexico; Singapore; Netherlands; Hungary; Malaysia; and China. Fastenal has 14 distribution centers in 10 U.S. states, Canada and Mexico. ©2009 GlobalFastenerNews.com

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Related Links:

• Fastenal

• Holo-Krome

• Danaher