MSC Industrial Supply Co., a distributor of Metalworking and Maintenance, Repair and Operations supplies to industrial customers throughout North America, has announced that it has acquired Tower Fasteners, a New York-based valued-added distributor of Original Equipment Manufacturer (OEM) fasteners and components.
Under the equity purchase agreement, Tower will continue to operate under its current name after becoming an MSC company. Mark Shannon, President of Tower, will continue to lead the business. MSC's acquisition of Tower, made through its All Integrated Solutions (AIS) subsidiary, expands the company's presence in the OEM fastener market.
"We are excited to add Tower Fasteners to our growing portfolio of businesses, all focused on helping manufacturers solve their mission-critical challenges," said MSC President and CEO Erik Gershwind. "Tower will expand our presence in the OEM fastener market and provide an entrée into new end markets like electronics and medical equipment. We look forward to supporting the growth and success of their customers together."
Mark Shannon, President of Tower Fasteners, said MSC, AIS and Tower have a shared passion for providing high-touch, custom solutions to manufacturers to support their MRO product and inventory management needs. "MSC is a recognized and respected leader in the industrial supply distribution industry. We're excited to join forces with MSC and AIS to bring even greater value to our customers," Shannon said.