Global Fastener News

1992 FIN – Century Fasteners to Acquire Consolidated Bolt & Nut

January 08
00:00 2011

 

January 1, 1992 FIN – Century Fasteners Inc. signed an agreement to acquire certain assets and liabilities of Consolidated Bolt & Nut Co.
Inventory has been moved the Consolidated facility on Avalon Boulevard in Los Angeles and operations have ceased at that address.

Under terms of the agreement, Vernon, CA-based Century has assumed the trade payables of Consolidate.

Century CEO Ralph W. Schack told FIN there are no plans to change vendor relationships established by Consolidated.

Century will seek additional acquisition candidates. Part of the financing for that objective will come from Century owner McCown DeLeeuw & Co., a venture banking firm which manages in excess of $200 million of equity capital and whose operating companies have combined revenues exceeding $1.5 billion.

Founded in 1984, McCown Deleeuw is privately owned and has offices in Menlo Park, CA; New York City; and Ann Arbor, MI.

At the time that McCown DeLeeuw acquired controlling interest in Century in 1990, Ted Green retained the position of president. Green and Leo Krashen co-founded Century in 1972.

Ralph Schack, who had been CFO and with Century since 1981, was named CEO, succeeding Krashen who retired.

Century Fasteners operates as a full line supplier of screws, bolts, nuts & washers to OEMs as well as other fastener distributors. Century carries an inventory worth about $5 million and is housed in a 53,000 sq ft facility at 5015 District Blvd., Vernon, CA 90058.  carries an inventory worth about $5 million for immediate delivery.  ©1992/2011 Fastener Industry News

See also:  1998 FIN – Distribution Dynamics Emerges From Quietly Building a Corporation.   Their acquisitions include Century Fasteners of Los Angeles; C-Tech Systems of Minneapolis; Rainbow Fasteners of Houston; Beaver Bolt of Portland, OR; Northwestern Industrial of Milwaukee; and the Fresno, CA branch of Allied Bolt.

 

 

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