Lawson Products acquired Greenville, TX-based Partsmaster from NCH Corporation for $35.3 million.  The deal is Lawson’s largest acquisition in five years and will push its annual revenue to $400 million.

Lawson paid $2.3 million of the purchase price at closing, and will pay the remaining $33 million in May 2021.

Founded in 1968 as a division of NCH, Partsmaster is an MRO products distributor with $63 million in annual sales to 16,000 customers through its 200-plus sales reps.  Partsmaster provides six specialty product lines, including Dyna Systems fastener line of domestic premium bolts, general Grade 8 and Grade 5 bolts, and stainless steel and metric fasteners.  Web: Partsmaster.com

“This transaction is an important step in our continued growth strategy,” stated Lawson CEO Michael DeCata.  “Partsmaster is a strong strategic fit with a similar VMI business model, similar product margins, a complementary product offering and a passion for providing great service to customers.”