Global Fastener News

1991, 1998 & 2000 FIN – Gardenbolt History

March 15
00:00 2010

FASTENER HISTORY
1991, 1998 & 2000 FIN – Gardenbolt History

1998 FIN – Gardenbolt Acquired By Heads & Threads

September 18, 1998 FIN – Two leading North American fastener importers announced a merger which makes fasteners a major part of a publicly held corporation.
Lee Bookman, president of Heads & Threads Company, and Steve Schonholtz, president of Gardenbolt International Corp., announced that Alleghany Corporation, which is listed on the NYSE, signed contracts September 1 to team the two longtime competitors.

Bookman said that “as co-directors of the American Association of Fastener Importers, Steve Schonholtz and I worked on the U.S. Fastener Quality Act for several years. Working closely with him, I learned about Steve’s Gardenbolt and about the man himself. I believed that merging Gardenbolt with Heads & Threads would benefit our customers substantially. I’m delighted that the merger is complete,” Bookman told FIN.
“We believe that this merger, plus our new state-of-the-art computer system, will put us in position to offer our customers, fastener jobbers and distributors the best service and the best source for quality imported fasteners in the U.S.”

Schonholtz said “by merging together two of the largest fastener importers in the U.S., Alleghany has created a nationwide specialist in “off the shelf” products for distributors.
“After competing with Lee and Heads & Threads for more than 20 years, this is an exciting opportunity to join together the best of what our individual companies have to offer,” Schonholtz said. “This represents the next logical step in Gardenbolt’s corporate evolution.”

Chicago-based Heads & Threads was founded as a private corporation in 1953. It was acquired first by MSL Industries in 1960 and by Alleghany in 1974. H&T now has 19 offices and distribution locations.

Gardenbolt, headquartered in Sayreville, NJ, was established in 1943 as Scheinert Bros. Inc. and grew from a small hardware distributor in lower Manhattan to a leading importer through acquisitions and expansion of commodities.
GBI has eight warehouse and sales office locations serving distributors through four divisions: Direct Mill Sales, Warehouse Sales, Stock for Release and Laser Construction Fasteners.

Schonholtz said there will be no apparent changes in Gardenbolt’s operations in the near term. Mill Sales and Stock for Release operations will continue under the Gardenbolt International name, while the stock sales will slowly be moved into Heads & Threads operation.
Heads & Threads

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