Lindstrom Metric Acquires Bossard Metrics, Inc.
ST. LOUIS, Oct. 8, 2012 /PRNewswire/ -- Lindstrom Metric LLC, a Harbour Group company, acquired Bossard Metrics, Inc., Jeff Fox, Harbour Group's chief executive officer, announced. Terms of the transaction were not disclosed.
Based in Elk Grove Village, Ill., near Chicago, Bossard Metrics is the U.S. master distribution business of Swiss-based Bossard Group. A premier supplier of metric fasteners to the U.S. distribution market, it sells only to distributors, with no direct sales to manufacturers. The company will be integrated with Lindstrom, enabling the combined operation to provide 2,000 distributor customers with more than 75,000 standard and specialty metric fasteners, further solidifying its position as the leading supplier of metric fasteners to the distribution market.
Concurrent with the acquisition, Lindstrom will become the exclusive master distributor for the entire range of Bossard products in the United States, and will exclusively distribute the industry-leading Bossard Group catalog to U.S. distributor customers.
Mr. Fox said, "Bossard Metrics has an exceptionally strong presence in the marketplace. This purchase marks another milestone in the 40 year history of continuous expansion and development of Lindstrom Metric, and we're committed to supporting Lindstrom as it grows both internally and through other strategic acquisitions. The combination further strengthens Lindstrom's position as the metric 'specialist,' offering customers a broad assortment of metric standard and specialty fasteners along with specialty plating, packaging, and other valued added services. "
Virgil Lindstrom, founder and President of Lindstrom Metric, said, "I am extremely excited about pulling Bossard Metrics into the fold, as its 'BN' nomenclature is widely recognized throughout the industry. This transaction adds to our ability to execute and continue to be the key partner to our valued distributor customers. No other supplier will be able to offer the inventory breadth, product availability, ancillary services and order flexibility on standard as well as tens of thousands of low-volume metric fasteners."
"Harbour Group demonstrated strong operational and industry experience throughout this process," David Dean, CEO of Bossard AG, commented. "Their experience, combined with their ability to move quickly and in a straightforward manner, assured me and the management team that Harbour Group and the Lindstrom team are well-suited to support the Bossard Metrics' customers and become the exclusive master distributor of the Bossard Group products to the distributor network in the United States. We're looking forward to working with Lindstrom for many, many years to come."
Harbour Group is a privately owned operating company based in St. Louis, Mo. Harbour Group and its companies are engaged in manufacturing, distribution, and specialty services in multiple industries, including specialty LED systems, niche distribution, logistics services, decorative kitchen and bath hardware, automotive enthusiast products, abrasives, diamond-cutting products and related tools, entertainment and music products, and auxiliary plastic processing equipment. Since its founding in 1976, Harbour Group has acquired 169 companies in 34 different industries.
SOURCE Harbour Group