9/2/2010 12:30:00 AM
NEWS BRIEFS
Lawson Products Sells Assembly Component Systems
Cleveland-based Supply Technologies
Lawson Products sold its Assembly Component Systems (ACS) subsidiary, to Supply Technologies LLC for $19 million, which included $16 million cash and a $3 million promissory note. Supply Technologies is owned by Park-Ohio Holdings Corp.
ACS is a provider of supply chain management solutions for a range of fasteners, screw machine parts and other components to durable goods manufacturers throughout North America. Chicago-based ACS was part of Lawson’s OEM segment, along with Automatic Screw Machine Products Co., which manufactures and distributes components, fasteners and fittings. Web: acssimco.com
Supply Technologies and Lawson Products said they’ve forged an alliance to collaborate on common interests relative to certain MRO products.
“We look forward to partnering with Supply Technologies in serving customers who value a combined OEM and MRO solution,” stated Lawson CEO Tom Neri.
Neri said the deal will provide cash for further investment in Lawson MRO, the company’s “most profitable business.” Lawson MRO revenue includes fasteners.
Park-Ohio said ACS will add $50 million in annual revenue and “be immediately accretive to Park-Ohio’s earnings.”
Des Plaines, IL-based Lawson Products distributes fasteners and components to the industrial, commercial, and institutional MRO market. The company also manufactures, sells, and distributes production and specialized component parts, and provides services and systems to OEMs.
Cleveland-based Park-Ohio manufactures highly engineered products and provides supply management services through 28 manufacturing sites and 40 logistics facilities. ©2010 GlobalFastenerNews.com
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