Global Fastener News

Porteous Acquires EK Fastener

John Wolz

Porteous Fastener Company acquired certain assets of E.K. Fastener Company. EK will continue to operate under its own name as an importer and master distributor of bulk fastener products.
Porteous acquired the inventory and fixed assets of E.K., assumed leases and hired all EK employees.
The acquisition opportunity arose when PFC president Barry Porteous heard through a mutual friend that EK founder and president Yasuharu Kitigami wanted to retire. Porteous described the acquisition as “basically a handshake deal from the beginning.”
Kitagami said he has had several offers for E.K. Fasteners in recent years. “When I met Barry Porteous, I had the feeling that this was the right man to sell my company to,” Kitagami reflected. “Since then, negotiations were smooth and comfortable. Barry has the kind of aura that makes people believe in him. I thank Barry for my happy retirement and wish him success. I also wish all friends in this industry, from the United States to Taiwan and China and especially my special friend Mr. Y.L. Tsai of Gem Year Industries in Shanghai, a prosperous future.”
Kitagami will return to Japan to help his son who was recently elected to the Japan house of representatives.
Founded in 1968, EK has branches in Houston, Chicago and Atlanta and is headquartered at 15020 Marquardt Ave., Santa Fe Springs, CA 90670-5704. Tel: 562 404-2121 Fax 562 404-4082 Web: ekfasteners.net
Porteous is a master distributor and importer with 16 North American branches and is headquartered at 1040 Watson Center Rd., Carson, CA 90745-4227. Tel: 800 426-6887 Fax 310 835-0415 E-mail: sales@porteousfastener.com Web: porteousfastener.com �2006 FastenerNews.com