Lawson Acquires Part of Premier Farnell
John Wolz
Lawson Products Inc. acquired portions of Premier Farnell plc, including primarily its North American fastener business.
Lawson acquired the Cleveland-based North American Industrial Products and Kent Automotive Divisions.
The assets are expected to generate $69 million in the year ending January 28, 2001.\
Lawson gains the field sales, telephone sales and customer service professionals, the customer accounts, certain administrative executives and use of various intellectual properties, including trade marks and trade names in certain territories.
Des Plaines, IL-based Lawson will combine its existing operations with Premier Farnells Premier Fastener, Rotanium Products, Certanium Alloys, CT Engineering, J.L. Holcomb, and Kent Automotive business units in the U.S., Canada, Mexico as well as Central America and the Caribbean.
Lawson is an international MRO distributor and a manufacturer and distributor of production and specialized component parts to automotive, appliance, aerospace, construction and transportation OEMs. Lawson reported $319 million in revenue in 1999.
UK-based Premier Farnell is a global B2B distributor of electronic and industrial components. Much of its U.S. business is by catalog.
An analyst said Premier Farnell is essentially getting out of the fastener business in North America, but maintaining its European and Asian fastener positions.
Web: lawsonprod.com and premierfarnell.com
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