Global Fastener News

October 11, 2013 FIN – Brighton-Best International acquired the assets of Porteous Fastener Company.

BBI CEO Robert Shieh pointed to “the opportunities and efficiencies that this new acquisition brings.  Combining the strengths and ‘best practices’ of both companies will broaden the value proposition that BBI brings to its worldwide customers and suppliers.”
What will happen to the Porteous Fastener Company name? Peggy Hsieh of Brighton-Best told GlobalFastenerNews that “nothing has been decided yet.”
The acquisition is “an asset purchase only and we bought the name. It is a good company with a good name,” she added.
Brighton-Best and Porteous operate competing facilities in nine markets: Southern California, New Jersey, Atlanta, Chicago, Cleveland, Dallas, Houston, Seattle, Tampa and Vancouver.
Shieh described Porteous as “a perfect fit for BBI in terms of culture and reputation.”

”This acquisition unites the two strongest fastener master distributors in the U.S. and will create the most efficient fastener wholesale supplier in the world.”
PFC CEO Barry Porteous termed the combination as creating “tremendous synergy resulting in opportunities for dynamic future growth.”
He and COO Bob Porteous, both sons of the late founder J.B. “Bud” Porteous, will take executive roles in BBI.
The combining of the two master distributor / importing companies has been widely mentioned.  Peggy Hsieh explained the companies did not comment previously because of nondisclosure agreements.
Earlier this year Porteous consolidated its two Southern California locations in a new 204,000 sq ft facility in Santa Fe Springs, CA.  Porteous currently has 16 locations in 12 U.S. states plus British Columbia.
In 2007 Taiwan-based Ta Chen, a consortium of investors led by Robert Shieh, acquired U.S.-based Brighton-Best Socket Screw Mfg.
Brighton-Best, now headquartered in Tainan, Taiwan, has 31 locations in 19 U.S. states, four in Canada, plus facilities in Australia, New Zealand, South America and the UK.
Porteous was founded by Bud Porteous in 1966 in downtown Los Angeles.
The Porteous brothers issued a statement thanking “industry partners and friends.”
“The experiences of the last 47 years will never be forgotten.”
“We know our relationships will continue to flourish throughout the integration with BBI.  They are a dynamic company and we are proud to be part of their team.  We believe the combination of PFC and BBI will create a stronger master distributor focused on providing value and operating synergies to our distributor partners.”
Brighton-Best traces its history to a Cincinnati storefront factory, which opened in 1925 as Brighton Screw Co. Stanley Sevell and Perry Rosenstein founded Best Socket Screw Co. in New York City in 1965. ©2013/2014 Fastener Industry News.
For information on permission to reuse or reprint this article please e-mail: FIN@GlobalFastenerNews.com

For background on Brighton-Best and Porteous, click on the Fastener History section of GlobalFastenerNews.com:
2007 FIN – Taiwanese Consortium Buys Brighton-Best
2008 FIN – Employees, Customers & Suppliers Tell the Porteous Story