True North Acquires Prodex Supply Inc.

True North Family of Companies Acquires Prodex Supply Inc. of Eden Prairie, Minn.

Prodex Is a Fastener & Hardware Distribution Company

MINNEAPOLIS – June 5, 2023 – The Minneapolis-based True North Family of Companies is pleased to announce the acquisition of Prodex Supply, Incorporated, of Eden Prairie, Minnesota. The deal was finalized on May 31.

Prodex Supply, Incorporated, is a distributor of high-quality specialty fasteners and hardware.

“We are eager to bring our focused team and growth mindset to Prodex and to support the company that Steve and Adam Clawson have built,” said True North COO James Groenewold. “We look forward to building on the company’s impeccable reputation for expertly serving distinct customer needs.”

“Steve Clawson started Prodex in 1986, and now, with him retiring, I’m eager to see the company remain strong,” said Adam Clawson, who will remain as the True North operating lead and general manager at Prodex. “I look forward to the partnership that Brian Slipka and True North is going to provide moving forward. My dad’s legacy is in great hands and the future is bright!”

True North is a family of independent businesses that spans diverse sectors: packaging, transportation & logistics, precision manufacturing, distribution, technology, business services, consumer goods, hospitality, sports, and real estate. This portfolio of individual businesses generates over a quarter billion dollars in annual revenue.

More information about The True North Family of Companies is available at https://www.truenorthequitypartners.com/

Source: True North Equity Partners

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