The acquisition represents Colony’s 11th acquisition since partnering with Audax Private Equity in November of 2018.
Colony Hardware, Inc., a direct-to-job-site distributor of construction materials and job-site supplies has announced the acquisition of B&L Bolt, Inc. and Slip-On Lock Nut, LLC (B&L), a Michigan-based value-added distributor of struts, fasteners, power tools, and other supplies to construction and industrial customers.
The acquisition represents Colony’s 11th acquisition since partnering with Audax Private Equity in November of 2018.
“B&L Bolt and Slip-On Lock Nut are leaders in the Michigan market and beyond. Their dedicated associates bring a reputation for providing quality customer service,” said Tim Rash, CEO of Colony. “Bringing B&L Bolt into the Colony family further reinforces our standing as the partner of choice for distribution business owners who desire to grow their legacy and help their valued employees prosper.”
With locations in Grand Rapids and Kalamazoo, Michigan, B&L Bolt was founded in 1986 and primarily services electrical and mechanical contractors and manufacturers, with an emphasis on cleanroom facilities. Its an ideal match for Colony, which offers a comprehensive portfolio of products including power tools, fasteners, safety, personal protective equipment, and more from leading brands and suppliers.
“We are excited to join forces with Colony Hardware,” said Dave Vander Ploeg, CEO of B&L. “The combination of companies is a wonderful fit for our people and our company cultures dovetail nicely. We are well positioned to serve customers and expand our offering.”
“Strategically, this deal helps to further position Colony Hardware as the direct-to-jobsite supplier of choice for contractors, and represents a compelling fit from a service perspective,’’ added Young Lee, Managing Director of Audax Private Equity. “We are excited to continue investing behind the Colony platform to support the company’s growth through both strategic acquisitions and organic initiatives.”
Filed Under: Fastener industry news