Lawson Products announced the acquisition of F.B. Feeney Hardware in Mississauga, Ontario. The transaction closed on May 9, the company reported.
F.B. Feeney Hardware has been serving the industrial market in Toronto and the surrounding area since 1952 and is known as a fleet specialist, according to the company. The company’s products and value proposition are similar to that of Lawson Products’ and include vendor managed inventory services. With this acquisition, Lawson Products is gaining three experienced sales representatives, the company noted.
Tom Feeney, who has led the company for the last 38 years, has agreed to join Lawson Products. Debra Feeney, who has helped lead the company as operations manager, will serve as a consultant through the transition.
“This acquisition is a great fit, given our commitment to helping our customers become more efficient and profitable. We look forward to leveraging our infrastructure in support of their customers,” said Michael DeCata, president and chief executive officer, Lawson Products.
“We continue to focus on top line growth, and intend to pursue more excellent opportunities that allow us to grow our sales force and increase market share,” said DeCata.
“We are pleased F.B. Feeney Hardware is joining Lawson Products, a leader in the industrial distribution industry and a company that has demonstrated its commitment to doing business in Canada,” said Tom Feeney. “Our sales team and customers will benefit from Lawson’s extensive product offering and robust support.”
Third Coast Capital Advisors served as financial advisor to Lawson Products. Transaction consideration was not disclosed.