XLCS Partners advises Tower Fasteners in sale to MSC Industrial Supply Co.
On August 1, 2022, Tower Fasteners was acquired by All Integrated Solutions (AIS), a subsidiary of MSC Industrial Supply Co. (NYSE:MSM), with XLCS Partners serving as the exclusive advisor. Tower, founded in 1967, is a value-added distributor of OEM fasteners to various sectors and has eight distribution centers across the U.S., Mexico, and Europe. This acquisition enhances MSC's position in the OEM fastener market, expanding its offerings to manufacturing customers. Tower will continue operating under its name, led by President Mark Shannon and its 100 associates.
- MSC's acquisition of Tower expands its OEM fastener market presence.
- Tower Fasteners continues operations under its established brand.
- Experienced leadership remains with President Mark Shannon and 100 associates.
- None.
NASHVILLE, Tenn., Aug. 10, 2022 /PRNewswire/ -- XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to Tower Fasteners (Tower) in its sale to All Integrated Solutions (AIS), a subsidiary of MSC Industrial Supply Co. (NYSE:MSM).
Tower is a second-generation value-added distributor of OEM fasteners and other components to a diverse set of industrial, medical equipment, aerospace, military, electronics, and security/fire & safety sectors. Founded in 1967, the company operates eight distribution centers along the East Coast and in the Southwestern regions of the United States, Mexico, and Europe. In 2018, Tower opened its first European distribution center in Dublin, Ireland. 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, which has approximately 100 associates.
MSC's acquisition of Tower, made through its AIS subsidiary, expands the company's presence in the OEM fastener market, which it entered in 2018 with the acquisition of AIS, a leading value-added distributor of industrial fasteners and components, MRO supplies and assembly tools based in Wisconsin. Similarly, MSC will extend Tower's production fastener solutions to its manufacturing customers. Founded in 1941, MSC is a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services. As a
"We could not have been more pleased with the job XLCS Partners did advising us during the sale of our business," said Bryan Shannon, Tower CEO. "From the introductory call with Anthony Contaldo to the final closing call, every person who worked with us was professional, thorough, and pleasant. This was our first experience in the M&A world and Anthony and his team guided us every step of the way. XLCS was the perfect advisory firm for the Shannon family."
XLCS acted as the exclusive M&A advisor to Tower and the transaction was led by Anthony Contaldo, Managing Partner and Jay Cremer, Vice President. The transaction was completed August 1, 2022.
XLCS Partners is an investment banking firm providing M&A advisory services to select clients globally. More information is available at www.xlcspartners.com.
Kendra Span
kspan@xlcspartners.com
615-379-7783
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SOURCE XLCS Partners, Inc.
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