Global Fastener News

May 8, 1996 FIN – Lawson Products Inc., announced it has agreed to acquire substantially all the assets of Automatic Screw Machine Products Company of Decatur, Alabama, for $10.3 million cash plus the assumption of trade payables.
It is the first time the 44-year-old Des Plaines, Illinois-based Lawson will be a manufacturer.
Automatic is a privately held manufacturer and distributor of production components. It has been owned since 1914 by the Norman families of Hinsdale, Illinois, and Decatur.
Automatic registered record revenues of $22.8 million in 1995.
Lawson revenues for 1995 were a record $223.5 million.
Lawson is acquiring Automatic through a newly created subsidiary, Assembly Component Systems, Inc.
ACS will continue to conduct sales and distribution to OEMs through facilities in Memphis, Tennessee; Bur Ridge, Illinois; and Tupelo, Mississippi. Manufacturing will take place in Decatur under the original Automatic Screw name.
Stanley Belsky, chairman/CEO of Automatic since 1987, will be the president/COO of ACS and Automatic. His executive team will remain intact.
Automatic is a specialty manufacturer of machined-from-bar products and other screw machine parts for industrial, off-the-road, heavy-duty, HVAC, aerospace and transportation OEMs.
Lawson will continue to concentrate on the industrial MRO and sell through its independent agents. ACS and Automatic will be marketed through manufacturer reps.
Lawson, founded in 1952 by Sidney Port, chairman of the executive committee, distributes 33,000 maintenance, repair and replacement fasteners, parts, chemical specialties, welding rods and supplies, hydraulic and other flexible hose, fittings and electrical and shop supplies from 10 distribution centers. Lawson has 1,675 agents in the U.S., Canada, England and Mexico.©1996/2015 Fastener Industry News.
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