ACQUISITIONS Field Merges With Mid-State Bolt & Nut Company

Field announced that it has merged with MidState Bolt & Nut Co., a full-line fastener distributor headquartered in Columbus, OH. Terms of the deal were not disclosed.

Founded in 1946, Mid-State Bolt & Nut provides supply chain solutions for fasteners and other direct materials. Mid-State Bolt & Nut will now be known as a division of Field. Web: msbolt.com

The partnership expands both companies’ products, services and geographical footprint.

“We’ve known Field and the Derry family for many years, and based on their culture, growth and future vision, we know that our team, customers and suppliers are in good hands by merging with Field,” stated Dave Broehm, President of Mid-State Bolt & Nut.

Broem will step down as president, while consulting on the transition. His two sons currently in the family business, Michael and Andrew, will stay with the company.

“What most impressed me was the quality of the people at Mid-State and their commitment to do whatever it takes to support the customer and one another. You can’t teach this and it very much aligns with the culture of Field. We couldn’t be more excited to welcome the Mid-State team and customer base into the Field family”, stated Adam Derry, President of Field.

Machesney Park, IL-based Field provides inventory management and complete supply chain solutions for fasteners and other Class “C” items. Field currently supplies fasteners in 35 countries from operations in Rockford, IL, Tyler, TX, Florence, SC, Troy, IL, Monterrey and Monclova, Mexico, and Kaohsiung, Taiwan. Web: FieldFastener.com

AFC Buys Motor City Industrial

AFC Industries has acquired Motor City Industrial for an undisclosed sum.

Founded in 1965, Hazel Park, MI-based Motor City and its subsidiaries, Quality Fastener, Smith Fastener and Emco Industrial, provide inventory management services. Web: MotorCityIndustrial.com

Motor City will continue to be led by current management, including CEO Joe Stephens.

“The Motor city acquisition strengthens our depth in a few key areas we were looking to grow,” stated AFC CEO Kevin Godin. “What most impressed us though was the team and the commitment they have to providing excellent service to customers.”

In 2022, AFC Industries acquired four fastener companies: Erie-PA-based Champion Bolt; Oregon Bolt in Tigard, OR; Santa Fe Springs, CA-based Askew Industrial; and TFC Ltd. located in Europe.

Headquartered in Fairfield, OH, AFC Industries provides supply chain management solutions for fasteners, tooling and assembly components to OEMs. AFC services include VMI, stock and release programs, light assembly, kitting and private labeling. Web: AFCind.com

In 2021, AFC Industries was acquired by Bertram Capital. Web: BertramCapital.com

GMS Acquires Brooklyn's Tanner Bolt

Specialty building products distributor GMS Inc. expanded its platform with its first entries in the New York City market.

GMS has acquired Tanner Bolt and Nut Inc. and opened a greenfield location. Terms of the deal were not disclosed.

Founded in the 1950s by Jerry Tannenbaum, Brooklyn-based Tanner Bolt and Nut distributes fasteners, tools, safety and related construction products to the NYC market. Web: TannerBolt.com

The new greenfield location in New York has a dedicated facility focused on the growth of acoustical ceilings business.

“We are pleased to take this first step into such a significant market,” stated CEO John Turner Jr. “With Tanner’s focus on tools and fasteners, these additions, along with the establishment of several new greenfield yard locations and AMES stores over the last several months, represent our continued commitment to the execution of our strategic priorities of platform expansion and complementary product growth.”

GMS has added six new greenfield locations in the past year. Web: GMS.com

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Birmingham Acquires Pacific Coast Bolt

Birmingham Fastener acquired Pacific Coast Bolt Corp. for an undisclosed sum.

With over 80 years of combined fastener production, the acquisition strengthens Birmingham Fastener’s manufacturing diversity and expands its U.S. footprint coast-to-coast with branches from New York to California.

Santa Fe Springs, CA-baed Pacific Coast Bolt manufactures and distributes products to industries such as water, wastewater, chemical, refining and construction. Web: PacificCoastBolt.com

“This strategic initiative further complements Birmingham Fastener’s made-in-America value proposition to our customers, as Pacific Coast Bolt brings a wealth of manufacturing equipment and

Nucor Steel Products Segment Grows

Nucor Corp. reported Steel Products segment results, including fasteners, more than doubled to $1.8 billion in the fourth quarter of 2022. The modest decrease in segment earnings was due to lower volumes and selling prices.

Consolidated net sales decreased 17% to $8.72 billion in Q4 compared with $10.5 billion in the previous quarter, and decreased 16% compared with $10.36 billion in the fourth quarter of 2021.

Average sales price per ton decreased 6%. During Q4, approximately 5,738,000 tons were shipped to outside customers in the fourth quarter of 2022, an 11% decrease. Total steel mill shipments decreased 13%, while steel mill shipments to internal customers represented 20% of total steel mill overall fastener knowledge,” stated Birmingham Fastener president Brad Tinney. “We are excited to expand westward and honored to heighten the level of customer service for all our partners across America.”

During 2022, Birmingham Fastener acquired two companies: rubber gasket supplier Champion Sales and Manufacturing in Magnolia, TX; and K-T Bolt Manufacturing in Katy, TX.

Founded in 1980, Birmingham Fastener manufactures fasteners for structural steel fabrication, metal building, transportation, water works and utilities, construction, agriculture industries and MRO. The Birmingham, AL-based manufacturer operates distribution centers in Alabama, Florida and Texas. Web: BhamFast.com shipments. Downstream steel product shipments to outside customers decreased 9% from Q3.

Full-year Steel Products segment results, including fasteners, rose to $4.1 billion.

During 2022, consolidated net sales grew 14% to $41.5 billion. Total tons shipped to outside customers declined 10% to 25,524,000 tons, while the average sales price per ton increased 26%. The average scrap and scrap substitute cost per gross ton used in the full year 2022 increased 5% to $492.

“Looking ahead to 2023, while we recognize there is uncertainty about the near-term U.S. economic outlook, we’re starting to see a number of demand drivers gathering momentum, including the reshoring of manufacturing, large infrastructure investments and grid modernization.” Web: Nucor.com