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1990 FIN – Century Old Fastener Manufacturer Acquired by Investment Group – Click on Fastener History

February 06
00:00 2010

2/6/2010
FASTENER HISTORY
1990 FIN – Century Old Fastener Manufacturer Acquired by Investment Group – Click on Fastener History

September 28, 1990 FIN – Jos. Dyson & Sons, a manufacturer of hot forged and specialty large and high strength fasteners founded in 1884, has been acquired by an investment group including two outside investors and some key management employees.

Leading the buyout are Willard R. Bell, Dyson’s new president and CEO, and Thomas A. Small, who is now vice president, secretary and treasurer.

Bell was most recently group vice president and director of Alco Standard’s former Metalsource Corp., a leading processor and distributor of specialty steels, heat treating and open die forging.

Small is the founder and former president of Central States Airlines.

As to why they decided to enter the fastener industry, Bell and Small told Fastener Industry News there is a growing need in the domestic markets for high quality fasteners of identified specification, which are produced by a fully integrated source.

They pointed out that Dyson forges its own blanks and has produced lot identified fasteners for the past three years under the patented “Dy-Trace” system, which involves stamping the heat identity as well as the headmarking on the fastener.

Dyson has been restructured into three divisions, each directed by a vice president and general manager. The three former Dyson officers now heading these divisions are: Patrick Sheffield, forging, forks & heat treating; John Millonzi, commercial fasteners; and Ron T. Harris, the Dependable Division for custom designed fasteners in specialty and super alloys for commercial and military nuclear applications.

Dyson was founded by Cleveland blacksmith Joseph Dyson and originally produced iron and steel forgings for engines, streetcars and other equipment.

The company was later acquired by a leather producer, Bardons & Oliver, and eventually purchased by the families of Margaret Oliver and Robert Collacott.

In late 1986 decedents of those families, May Targett and Catherine DeWitt, sold Dyson to a group of 14 employees, who elected a board of directors and company officers. ©1990/2010 Fastener Industry News.

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