Global Fastener News

ParkOhio Acquires UK Fastener Company

ParkOhio Acquires UK Fastener Company
October 05
14:25 2017

ParkOhio acquired Heads & All Threads Ltd. (HAT), based in Birmingham, UK.

Founded in 1986, HAT provides supply chain management services and has operations in the UK, Czech Republic, Poland, and India. HAT specializes in developing vendor-managed inventory programs of fasteners, machined parts, and other class C components to many end markets, including construction, automotive and EMS markets. Web: heads.co.uk

“The strategic acquisition of Heads & All Threads, with annual revenues of approximately $35 million, will immediately be accretive to earnings,” stated ParkOhio CEO Edward Crawford. “HAT has an impressive history of sales growth and will strengthen our market position for supply chain management services.”

In 2016, ParkOhio’s Supply Technologies segment revenue, including fasteners, dropped 13.2% to $502.1 million. Segment operating income fell 20% to $40 million for the year.

ParkOhio entered the fastener business in 1995 by acquiring RB&W. Subsequent fastener acquisitions included Arden Industrial Products Inc., Arcon Fastener Corp., Delo Screw Products Co., Direct Fasteners, Gateway Industrial Supply and Columbia Nut & Bolt Corp. and Purchased Parts Group Inc. Web: pkoh.com

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