John L. Wolz

Prophet 21 acquired Faspac Systems Inc. and will incorporate the fastener-specific programs into its own business technology, CEO Chuck Boyle announced. The fastener software program will now be known as Prophet 21/Faspac.
Faspac has been the most visible fastener software company in the industry. Partners and founders Margaret Jackson and Neil Hadfield were active in fastener associations and on technical committees. Hadfield explained that given the nature of today’s software industry environment combined with the slowdown of the economy, Faspac faced an uncertain future. We therefore decided to merge with a stronger industry player.
Boyle told Faspac customers that the combination of Faspac’s specific vertical market expertise with Prophet 21’s technology leadership and corporate strength will offer you many benefits.
Terms of the sale were not disclosed.
Faspac Users: Wait & See
Several Faspac users expressed wait-and-see attitudes toward Prophet 21. One of the earliest Faspac users commented, We have a high interest in what they will do. Of course we hope what they say and what they do align.
This may change things for us and maybe not. We will see what the future holds for us.
We have many concerns as to our future relationship with Prophet 21, another fastener distributor said.
Founded in 1967, Prophet 21 has 2,000 customers. There are 70 fastener companies, including Wurth/Service Supply, Southern Fastening Systems, Tropic Fasteners and Wurth/Snider Bolt & Screw. The former Questron Technologies  now GE Supply Logistics  used Prophet 21.
Yardley, PA-based Prophet 21 has 315 employees.
Faspac was founded in 1979 by Bill Vollmer and Dennis Marteeny of Western Fastener of San Diego, along with Jackson and Hadfield, as Western Pacific Data Systems. Jackson and Hadfield bought out Vollmer and Marteeny in 1981 and went on to sell more than 500 systems to the fastener industry over the next 22 years.
The Faspac Classic system began its development in 1979 as a software system for fastener distributors, designed to handle purchasing and receiving, sales order entry and accounting functions. In 1991 Faspac designed software for fastener manufacturers, including quoting and estimating, production, scheduling, shop floor control and tooling subsystems.
In 1997 Hadfield and Jackson spun off an aerospace software product. Hadfield said that by then the original COBOL product was becoming technically mature, and Faspac invested five years and many millions of dollars in building a new technology product to replace the original Faspac, resulting in the new FaspacSQL for Microsoft Windows 2000 and SQL Server.
Prophet 21’s Levin: What to Expect
By going from 70 fastener companies to 370 with Faspac, Prophet 21 will increase our presence. We are increasing resources, time and energy in the fastener industry, executive vice president Doug Levin said.
Prophet 21 will take roles in fastener associations similar to Faspac participation in technology committees.
Fasteners are now Prophet 21’s second largest segment behind industrial distribution.
Prophet 21 was a publicly held company until January 2003, when it was taken private by the management team.
Boyle heads the entire company, including Faspac. It will not be a separate operating company. Key executives are Bill Patton, vice president of professional services, and Russ Mellott, vice president of development. Levin is in charge of sales and marketing.
Upon acquisition, Jackson and Hadfield are retired from the fastener industry.
Faspac’s La Jolla, CA, headquarters will continue to provide support and development for the fastener industry.
Faspac users can expect enhanced support and services and enhanced technology, Levin said. Software companies have traditionally focused more on products rather than education, but Prophet 21 will be providing additional education to users, he said.
Faspac users will be able to add Prophet 21’s Trading Partner Connect software, which allows distributors to trade stock information with suppliers without picking up the phone or web browser. Fastener users will gain some technology because most of Prophet 21’s software is geared toward larger customers. Now they (Faspac users) are existing customers and they will gain the technology, Levin said.
Prophet 21 is headquartered at 19 W. College Ave., Yardley, PA 19067. Tel: 800 776-7438 or 215 493-8900 or outside the U.S. 858 454-0062. Faspac is headquartered at 7590 Fay Ave. #301, La Jolla, CA 92037. Tel: 858 454-0062 Fax 858 799-3598 E-mail: info@faspac.com Web: faspac.com

2003 FastenerNews.com