Scott Supply Service, Inc. Acquires Faspeco
Scott Supply Service, Inc. a fastener company supplying more than 45,000 industrial and automotive fasteners has acquired Faspeco, the fastener specialty company, in a deal that will bring two strong and well established companies together. Faspeco was founded in 1969 and Scott Supply Service, Inc. was founded in 1974.
(PRWEB) August 10, 2006 -- Brett Scott, the second generation of Scotts to own and operate Scott Supply Service, Inc., made the acquisition earlier this month. The terms of the deal have not been disclosed.
Both companies have been strong in their respective marketplaces. The new acquisition brings many benefits including the addition of Maria Gardner to Scott Supply’s very knowledgeable and thoroughly experienced staff. Other benefits will be improved supply chain and inventory management, a stronger financial foundation by denying competitors the Phoenix marketplace as a sanctuary, and a more cost effective way to serve their multi-city/multi-location customers.
Faspeco will now be able to take advantage of Scott Supply Service’s software systems. Scott Supply was one of the first fastener companies to develop customized software specifically focused on the needs of the fastener industry. Faspeco will also now be able to take advantage of an Internet presence allowing customers to place orders, check inventory, and utilize the ScottNet® Cost Recovery System.
Both companies are debt free, strong, and stable.
For more information please contact Brett Scott, Owner of Scott Supply Service, Inc. and Faspeco. 520.882.9866 voice
Reference web sites: www.scottsupply.com and www.faspeco.com
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