Fastener Supply Company to Acquire General Machinery in Strategic Merger Deal
FOR IMMEDIATE RELEASE
August 1, 2023
CHARLOTTE, NC – Fastener Supply Company, a leading fastener distributor, is pleased to announce its acquisition of General Machinery. The strategic merger deal was finalized on July 31, 2023, marking a significant milestone for both organizations.
With this acquisition, Fastener Supply Company further solidifies its position as a dominant player in the fastener industry. The combined strengths of both companies will enhance capabilities, expand product offerings, and create exciting opportunities for growth and innovation.
“We are thrilled to welcome General Machinery to the Fastener Supply family,” said Donnie Shrum, President of Fastener Supply Company. “This acquisition aligns perfectly with our long-term vision and growth strategy. General Machinery brings exceptional expertise, a talented team, and a strong customer base, all of which will complement and strengthen our operations.”
The merger is anticipated to unlock synergies that will benefit customers, employees, and shareholders of both companies. Customers will gain access to a broader range of high-quality products and services, while employees will enjoy enhanced career development prospects within
the expanded organization.
General Machinery customers can continue to expect the same level of commitment and service excellence they have come to rely on, as the integration process will be carried out thoughtfully and diligently to minimize any disruption. Additionally, Michelle Hampton will stay on as Branch Manager.
“This merger represents a powerful opportunity for General Machinery to accelerate growth and reach new heights,” said Michelle Hampton, Manager of General Machinery. “By combining forces with Fastener Supply, we can leverage our collective strengths to better serve our customers and achieve even greater success in the fastener industry.”
As part of the acquisition, General Machinery will operate as a branch of Fastener Supply Company. Both companies are committed to ensuring a smooth transition and maintaining the highest standards of customer service during the integration process. The company will continue to operate under the General Machinery name for now. The acquisition received approval from the relevant regulatory authorities, and all necessary legal formalities have been completed.
About Fastener Supply Company
Fastener Supply Company is a full-service fastener distributor with more than six decades of dependable service to our customers. Founded in 1959, the multi-generational family-owned business specializes in providing quality fastener products, solutions, and services to companies worldwide. The company is known for its industry expertise and service to OEM customers throughout the United States and Mexico. Find Fastener Supply on the web at fastenersupply.com.
About General Machinery
With continuous operations since 1914, General Machinery has maintained a significant presence in the Midwest market and community. The company is renowned for its broad selection of hardware and fastener items. General Machinery has built a strong reputation based on community involvement, customer service, and talented employees. Find General Machinery on the web at genmachinesupply.com.
For media inquiries or more information, please contact:
Stacy Mears
Marketing Manager
704-919-3711
SMears@FastenerSupply.com
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Acquisitions, Fastener Acquisitions, Fastener News, Fastener News Desk, Fastener News Podcast, Mergers & Acquisitions
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