Fastenal surpasses $1 Billion in sales outside the US

In September 1994, Fastenal opened a sales branch in Stoney Creek, Ontario, Canada. It had just two employees and around $1,800 in first-month sales, but it was exceptional as it was the company’s first branch outside the United States. Fastenal’s international business has grown to include sales, service, and support teams in 25 countries spanning the Americas, Europe, and Asia. In 2022, these teams achieved an impressive milestone, $1 billion in annual sales.

“This was not a small accomplishment, and it took hard work and commitment from everyone involved to reach it,” said Jeff Watts, Fastenal’s EVP of international sales (and one of the company’s first employees in Canada). “It shows what can be accomplished when we work together as One Team with a common goal, and it’s humbling to be a part of.”

Fastenal’s international expansion initially mirrored the globalisation of its United States customer base. As multinational customers opened facilities around the world, Fastenal invested in local resources to support them in those markets. But it wasn’t just a matter of ‘exporting’ its U.S. customer base and business model. Fastenal’s international teams evolved and grew and solidified customer relationships, earned new opportunities, and innovated new ways of doing business that made sense for their local markets.

The $1 billion international sales milestone caps a decade of strong growth, with international revenue more than tripled. During this same time period, the number of international employees grew from 1,800 to 4,500.

“As we continue to invest in international teams and structures, we're expanding our ability to support local, regional, and global organisations with in-market resources and proven value-creation programs," said Dan Florness, President and CEO of Fastenal. "Congratulations to our international teams for achieving the $1 billion revenue milestone, and thank you for helping to make Fastenal a world-class supply chain partner.”