Würth Group has acquired Des Moines Bolt Supply
Lincoln International (“Lincoln”), a premier global mid-market investment bank, is pleased to announce that Künzelsau, Germany-based Würth Group (“Würth” and the “company”) has acquired Iowa-based Des Moines Bolt Supply, Inc. (“DMB”), a distributor of fasteners and industrial supplies across the U.S. Midwest. DMB now operates under the Würth Industry of North America (“WINA”) family of companies as Würth Des Moines Bolt, Inc. WINA is currently one of the largest assembly component distributors operating in the U.S. and aims to reach sales of $1 billion by 2020, largely through inorganic growth. Lincoln acted as the exclusive buy-side investment banking advisor to Würth in the acquisition of DMB. Terms of the transaction were not disclosed.
DMB was founded in 1978 by the Simmer family. Today, employing a staff of 95, it operates eight distribution facilities across Iowa, Missouri and Nebraska. DMB provides customers with industrial fastener products and services, including vendor management inventory (VMI), electronic data interchange (EDI), bar coding, kitting and packaging, delivery services and more.
Keven Simmer, President of Des Moines Bolt, stated, “We are very excited to be part of the Würth Group and their family of companies. Würth’s global reach and product depth allows us to build on our one-source convenience mentality. Whether it is a box of hex bolts, a bin of rivet nuts, or a pair of safety gloves, we will be able to provide solutions that meet our customers’ ever-evolving needs.”
The addition of DMB will enable Würth to enhance its market position and increase its market share in the U.S. agricultural and construction equipment market. With DMB, WINA is now comprised of eight companies servicing OEMs by providing vendor-managed inventory (VMI) programs through the proprietary brand CPS C-Parts Solutions. This acquisition is the third one for WINA in the past two years.
Lincoln originated the transaction, helped negotiate the key terms and provided hands-on coordination of the due diligence activities of all third-party advisors, including financial, legal, employee benefits, insurance and environmental advisors, as well as the commercial and operational diligence efforts.
“Lincoln provided disciplined execution and thoughtful insight throughout the transaction process,” said Marc Strandquist, Executive Vice President with WINA.
About Würth Group
Headquartered in Künzelsau, Germany, Würth is a family-owned business employing over 67,000 individuals and generating over $12 billion in annual revenue. Through more than 400 subsidiaries in more than 80 countries, Würth is one of the world’s largest business-to-business distributors and provides a broad variety of assembly products to most end markets and geographic regions around the globe. Since the Company’s founding in 1945, the Würth family has steadily grown the Company organically and through selective acquisitions. Its proven business model is predicated on successfully integrating acquisitions into a network of profitable, independently managed businesses. Lean management structures, an inspiring corporate culture, and the retention of strong management teams and target trade names post-transaction reflect the personal values and collaborative nature of the Würth family. Over the past two decades, Würth has completed more than 30 acquisitions in the U.S. Further information about the company can be found at www.wuerth.com.
Headquartered in Indianapolis, Indiana, WINA provides C-part solutions to a variety of end markets and customers. WINA expects to reach $700 million in annual revenue in 2016 and currently operates over 50 supply warehouses. It has consolidated a number of independently run industrial distribution businesses, which makes WINA a leading distributor of industrial assembly products and a provider of value-added services, such as VMI programs to numerous end markets, including construction, cargo, agriculture, military, transportation and renewable energy. Further information about WINA can be found at www.wurthindustry.com.
Meet Our Professionals
View More Transactions
Lincoln International is pleased to announce that KIMS Hospital has been sold to LycaHealth
Lincoln International is pleased to announce that private shareholders have sold Sensonor to Safran (EPA:SAF)
Lincoln International is pleased to announce that Columbus Industries has been sold to Filtration Group, an affiliate of Madison Industries
Lincoln International is pleased to have advised Sauer Brands, a portfolio company of Falfurrias Capital Partners, on its acquisition of Mateo’s Gourmet Salsa
Lincoln International is pleased to announce that it rendered a fairness opinion in connection with this transaction
Lincoln International is pleased to announce that Goldner Hawn has sold Control Devices to HBM Holdings
Lincoln International is pleased to announce that Commodore Corporation has been sold to Cavco Industries, Inc. (NASDAQ: CVCO)
Lincoln International is pleased to have advised Virtuos and its shareholders on their growth equity transaction with BPEA