CHICAGO--Lawson Products, Inc. (NASDAQ:LAWS) (“Lawson” or the "Company"), a distributor of products and services to the MRO marketplace, today announced the acquisition of Perfect Products Company of Michigan. The transaction closed on March 7, 2016.
Founded in 1959, Perfect Products Company of Michigan is a family-owned full-service fastener, bolt, nut, clip and screw distribution company that specializes in offering supplies for domestic and imported vehicles. Perfect Products serves automotive repair shops, body shops and industrial clients from Grand Rapids and Detroit, Michigan to Toledo, Ohio. This acquisition will add four sales reps to Lawson’s sales team.
“We are delighted to welcome the Perfect Products’ highly experienced sales force to the Lawson team and we look forward to providing them with the support, services and systems to achieve even greater success,” said Michael DeCata, president and chief executive officer, Lawson Products, Inc. “This acquisition is an excellent strategic fit, with a similar value proposition to our Kent Automotive brand. As we continue to focus on top line growth, we will look for more excellent opportunities like this where we can grow our sales force and leverage our infrastructure.”
Co-owners Bruce Findlay and Mike Findlay, each with more than 25 years of selling experience in this industry will stay on as sales reps for Kent Automotive. Perfect Products’ president Jim Findlay, who will remain in his role through the transition stated, “We are pleased to partner with Lawson Products, an organization that has a demonstrated track record as a leader and expert in the industrial distribution industry. This transaction will bring us to the next level, expanding our business while also providing our sales reps and customers with Lawson’s extensive product offering and support.”
Third Coast Capital Advisors served as financial advisor to Lawson Products. Transaction consideration was not disclosed.
About Lawson Products, Inc.
Founded in 1952, Lawson Products (NASDAQ: LAWS) is an industrial distributor of maintenance and repair products. Lawson carries a comprehensive line of products and provides inventory management services to the industrial, commercial, institutional and government maintenance, repair and operations (MRO) market. With five strategically located distribution centers in North America, Lawson ships to customers in all 50 states, Puerto Rico, Canada, Mexico and the Caribbean. Under its Kent Automotive brand, the Company supplies products to collision and mechanical repair shops as well as automotive OEMs. For additional information, please visit https://www.lawsonproducts.com/ or https://www.kent-automotive.com/.