NORTH AMERICAN NEWS

Hagan: Fastener acquisitions at strong pace during 2013 by John Wolz, editor, GlobalFastenerNews.com

Deal making activity in the global fastener industry continued at a strong pace during 2013, Consultant Richard Hagan summarised.

of acquisitions through April. “However, we do not anticipate a significant slowdown in deal activity. There are numerous fastener company transactions pending and in-process at this time and we believe the appetite for deals by both buyers and sellers is healthy.”

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The top ten fastener company acquisitions of 2013 (Arranged in chronological order) Ohio based Hillman Companies Inc purchased H. Paulin & Co Limited of Canada. Stanley Black & Decker Inc of Connecticut purchased Infastech Limited of Hong Kong. Elgin Fastener Group LLC of Indiana purchased Vegas Fastener Manufacturing of Nevada. MSC Industrial Direct Co Inc of New York purchased the Barnes Distribution business unit of Barnes Group Inc. EFC International Inc of Missouri was recapitalized by Quad-C Management Inc. Carlson Systems Holdings Inc of Nebraska purchased Western Tool Supply of Oregon. Park-Ohio purchased Henry Halstead Limited of England. Brighton-Best International Inc of Taiwan purchased Southern California based Porteous Fastener Company. TriMas Corporation of Michigan purchased Mac Fasteners Inc of Kansas. Oregon based Precision Castparts Corp purchased Permaswage SAS of Southern California.

For more on the transactions or about the specialised investment banking services provided by Pinnacle Capital Corporation, contact Richard P. Hagan: rphagan@pinnaclecapitalcorp.com

US fastener figures

reveal modest Q1 growth US fastener exports and imports achieved modest growth in the opening quarter of 2014.

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xports of US fasteners rose 5.5% during the first three months of the year, according to data released by the US Census Bureau. Imports fared better, with fastener imports to the US growing

7.25% during Q1. Those figures were boosted by solid gains during March. US fastener exports of iron and steel fasteners (HTS Code: 7318) increased 7% to US$320.8 million in March, boosted by rising demand from Mexico and China, Zepol reports. The top five consumers of US fastener exports in March

were Mexico (up 7% month-to-month to US$100.2 million); Canada (up 1.7% to US$90.7 million); the UK (down 7.6% to US$14.5 million); China (up 11.9% to US$13.2 million); and Germany (up 6.8% to US$9.9 million), according to Zepol. Imports of iron and steel fasteners (HTS Code: 7318)

to the US also increased in March, growing 8% to US$387.3 million despite value gains from Taiwan, Japan, Germany and Canada, according to data released by the US Census Bureau. The top five countries importing fasteners to the US during March were Taiwan (up 9.3% month-to-month to US$118.9 million); China (down 15.6% to US$67.3 million); Japan (up 11.1% to US$61.8 million); Germany (up 17.3% to US$27.1 million); and Canada (up 4% to US$26.1 million), Zepol reports. In 2013 US fastener exports grew 9.1% to US$3.6 billion,

while fastener imports fell 2.2% to US$4.49 billion. Data was derived from Zepol's TradeView, using US import and export trade data released by the US Census Bureau in the Merchandise Trade dataset.

he president of Pinnacle Capital Corporation found: “By our count, there were a total of 29 fastener company acquisitions completed worldwide last year. That number is closely comparable to the total of 31 fastener deals completed during 2012 and the 29 fastener deals completed during 2011.” Thus far in 2014, “there has not been enough fastener deals completed to keep pace with the last three years,” Hagan observed

Fastener + Fixing Magazine • Issue 88 July 2014