EuroWire November 2022

Corporate News

MSC Industrial Supply acquires Tower Fasteners MSC Industrial Supply Co, a distributor of metalworking and maintenance, repair and operations supplies to industrial customers throughout North America, has acquired Tower Fasteners, a value added distributor of OEM fasteners and components based in Holtsville, NewYork, USA. Tower’s growing footprint will comple ment AIS’s existing locations concentrat ed in the Midwest. The company operates eight distribution centres along the East Coast and in the southwestern regions of the United States, Mexico and Europe. “Tower will expand our presence in the OEM fastener market and provide an entrée into new end markets like electronics and medical equipment. We look forward to supporting the growth and success of their customers together.” their mission-critical challenges,” said MSC president and CEO Erik Gershwind.

Tower serves manufacturers in the indus trial, electronics, medical equipment, aer ospace, military, security, fire and safety sectors. MSC plans to maintain Tower’s operations, giving the company’s customer base ac cess to MSC’s two million-plus product portfolio to support their full metalwork ing and MRO needs. Similarly, MSC will extend Tower’s production fastener solu tions to its manufacturing customers. The acquisition is expected to be roughly neutral to MSC’s fiscal 2022 earnings and slightly accretive to fiscal 2023 earnings. “We are excited to add Tower Fasteners to our growing portfolio of businesses, all focused on helping manufacturers solve

Würth Industry North America (WINA), an industrial distributor of supply chain solutions for fasteners, MRO and safety equipment, has reported record double digit revenue growth through to July, seeing an increase of 16.5 per cent compared to the previous year. Despite ongoing supply chain challenges and an unstable economic situation, the company was able to carry its growth momentum from 2021 and is on track to report the largest annual sales volume in its 26-year history. “Even against the economic and market challenges we faced in the first half of 2022, we continue to see double-digit sales growth through our divisional structure,” said Dan Hill, chief executive officer of WINA. “Our divisions are wholly focused on their vertical market and offer unparalleled product range, services and expertise to their respective industries. The continued growth of Würth Industry North America relied on the execution of an alignment that highlights the strengths and capabilities of the historical companies.” Under the equity purchase agreement, Tower will continue to operate under its current name after becoming an MSC company. Mark Shannon, president of Tower, will continue to lead the business. Tower’s revenue in 2021 was approximately $35mn. MSC’s acquisition of Tower, made through its All Integrated Solutions (AIS) subsidiary, expands the company’s presence in the OEM fastener market, which it entered in 2018 with the acquisition of AIS, a distributor of industrial fasteners and components, MRO supplies and assembly tools based in Wisconsin, USA.

AIS president Nick Ruetz added, “AIS and Tower have worked together on industry related matters for many years. We’re looking forward to partnering to expand our reach in serving OEM customers and extending MSC’s full array of solutions to improve the effectiveness and efficiency of their operations.” MSC Industrial Supply Co www.mscdirect.com

All Integrated Solutions www.allintegrated.com Tower Fasteners www.towerfast.com

WINA delivers strong sales results through divisional structure

product range and purchasing power of the group of North American companies and grow total sales that contribute to the overall success of its parent company, the Würth Group. Since then, all four divisions have shown total year-over-year sales growth. Würth Industry North America www.wurthindustry.com

The company’s MRO, safety and metal- working division saw a 22.7 per cent increase over the prior year, and the industrial division, including domestic and international business from Canada, Mexico and Brazil, grew 14.8 per cent. The company’s alignment into divisions was completed in 2021. The multi-year business transformation was designed to streamline and optimise the operations,

WINA distributes supply chain solutions for fasteners

Photo courtesy of www.wurthindustry.com

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www.read-eurofasteners.com

November 2022