Pawtucket/Bell/Zelenda Up For Sale

John Wolz

Pawtucket Fasteners L.P. � including its Bell Fasteners and Zelenda Metrics divisions � is for sale.
An ad in the Wall Street Journal describes the �turnkey operations� as a �highly successful established manufacturer and distributor of industrial metal fasteners� with �10 locations throughout United States. $30,000,000 annual sales.�\
The ad refers potential buyers to attorney Allan Shine of Winogard, Shine & Zacks of Providence, RI. The firm acts as an arbitrator between Pawtucket shareholders and lenders.
Pawtucket includes:
� Bell Fasteners is an importer and master distributor of stainless and nonferrous fasteners.
� Zelenda Metric is an importer and master distributor of metric fasteners and tools.
� Stillwater Fastener, a manufacturer of small diameter standard and special screws.
Bell has stocking facilities in New Bedford, MA; Cleveland; Charlotte; Tampa; Chicago; Houston; Seattle and Santa Fe Springs, CA.
The sale includes the real estate for four Northeastern locations, machinery, equipment, furniture, fixtures, $12 million in inventory, customer lists, trademarks and accounts receivable.
Pawtucket is owned by three shareholders in the Alperin family.
In 2000 Pawtucket sold its retail hardware fastener division, Sharon-Philstone, to SunSource Inc. Sharon-Philstone had sales of about $14 million and 30 employees.
Last fall Bell & Zelenda formed BZ Trading to import standard and special products.
Richard Hagan of Pinnacle Capital Corporation of New York described the situation as �a difficult market and difficult times Pawtucket is going through.�
�There should be some interest by buyers, but the number will be limited,� Hagan analyzed. Bell sells only to distributors making it attractive to importers and master distributors.�2002 FastenerNews.com