Harbour Group subsidiary, Lindstrom has acquired Hodell-Natco Industries’ packaged fastener and master distribution business.
Terms of the transaction were not disclosed.
Hodell-Natco is a leading distributor of fasteners and related products, with six branches in the United States. The company's packaged fastener business is based in Cleveland, and provides over 23,000 packaged products to its customers.
Fox said: "Hodell-Natco offers a broad product line of customizable packaged fasteners and is well-positioned to meet the needs of its distributor customers.
"Hodell-Natco brings tremendous value to distributors by offering unique product lines, quality assurance, and a commitment to customer service. The addition of Hodell-Natco's packaged fastener business will further enable Lindstrom to serve our customers with an even broader product offering."
Lindstrom president Mike Wrenn said: "Packaged fasteners have been part of our core business since the acquisition of Titan Fasteners in 2014. Packaging is now one of Lindstrom's specialties and we are excited to offer more products to our distributor customers.
“Lindstrom is known for customer service; this acquisition expands our physical footprint to further enhance our service levels."
Hodell-Natco president Kevin Reidl said: "Our focus at Hodell-Natco is to continue growing our core end-user business.
"When we determined that the packaged fastener business was no longer core to our long-term vision for the company, we began the search for a partner that we knew would be diligent in their care for our highly valued packaged-fastener customers. Harbour Group and the Lindstrom team are uniquely suited to accomplish our goal.
"We are very confident that they will provide outstanding service to these long-term customers and would not have considered this transaction if we felt differently. We will be working closely with Lindstrom throughout the transition and will maintain a strong relationship with them as a supplier going forward."
In conjunction with the acquisition, Lindstrom is pleased to announce that a new distribution center will open in Cleveland in April 2017.
