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Published in Small Business

Woman-owned Hodges Fastener sells to Ohio-based consolidator

BY Tuesday, October 18, 2022 02:54pm

TRAVERSE CITY — Hodges Fastener Corp., a woman-owned distributor of a range of fasteners, has sold to an Ohio-based firm that has been consolidating fastener distribution companies across the Midwest. 

The sale to Twinsburg, Ohio-based Lakeshore Fastener Group Inc. will allow Blair Township-based Hodges Fastener to offer a broader range of products and services to customers. Hodges Fastener was founded in 2001 and distributes across Michigan. Owner Ellen Strange previously took over the business from her father, Bill Hodges, after a career in accounting. 

The presidents of both companies first connected about five years ago after Kevin Weidinger at Lakeshore Fastener reached out to Strange.

“I had coffee with Ellen about five years ago to discuss possibilities, and it’s great we are now able to welcome her company to the family,” Weidinger said in a statement. “Our plan is to continue the consistent service Hodges clients have come to expect plus present them with the many new products and services that the now combined companies can offer.”  

For Lakeshore Fastener, the deal allows the company to continue expanding in the Midwest and build on its distribution centers in Michigan, Ohio, New York and Wisconsin. 

The firm’s strategy is to acquire distributors and maintain the local firms’ identities while leveraging back office efficiencies at its headquarters near Cleveland. The portfolio of companies maintains an inventory of a range of standard and specialty fasteners and offers lean production services such as kitting, packaging, sub-assembly and managed inventory programs. 

“Lakeshore Fastener and their people made them the clear choice to continue to serve our loyal customers,” Strange said. “The combined organization will help Hodges Fastener Corporation grow to reach its full potential and allow us to offer our customers a broader range of products and services.”

Terms of the deal were not disclosed. 

For Weidinger, the acquisition also offered a homecoming of sorts for the Michigan native. 

“I was born and raised in Michigan, so aligning our organization with Hodges seemed like a great way to re-establish ties to the Mitten while our enterprise continues our geographic expansion and drive to add talent and introduce new capabilities,” Weidinger said. 

Read 1312 times Last modified on Tuesday, 18 October 2022 14:56
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