Follow on Google News
News By Tag
News By Location
Follow on Google News
Corporate Finance Associates advises Field in merger with HRS Logistics
Based in Machesney Park, Illinois, Field is a global distributor of fasteners and other small components. This strategic partnership will enhance their position in the marketplace by expanding the products, services, and geographical footprint in which they service their customers. Field has averaged 20% growth rate since 1990 and plans to sustain high growth organically as well as through acquisitions. “We are all about building and strengthening teams to provide value to current and prospective customers. The combined strength of HRS Logistics and Field will allow us to excel and provide significant benefits to both,” explained Bill Derry, Chairman of Field.
With locations in Texas and Mexico, HRS Logistics is a global provider of fasteners and other “class c” items servicing customers throughout the South/ Southwest and in Mexico. They are a rapidly growing company that has achieved a 155% growth rate over the last four years. “HRS Logistics is pleased to have merged with such a strong and well respected company in our industry,” said Ray Robinson President of HRS Logistics. As a result of this merger, both companies will have a broader footprint to service current customers and provide technical services to drive short and long term cost savings.
“Corporate Finance Associates came highly recommended to the Field team from a local bank representative. By the time of the closing they exceeded our expectations. Anthony Contaldo, our primary contact at CFA, was knowledgeable, professional and effective in getting the deal done. He facilitated the discussion as needed and knew when to encourage the parties to deal direct. We fully intend to use CFA for future acquisition activity.”
Field is a full-service, technically oriented, global provider of inventory management and complete supply chain solutions and fasteners, such as screws and bolts and other “class c” items. The Company was acquired by Derry Enterprises Inc. in 1990. For the third consecutive year, Field was recognized by Inc. Magazine as one of the fastest growing private companies in America. Field serves more than 900 customers worldwide. More information is available at www.fieldfastener.com.
About HRS Logistics
HRS Logistics started in 1972 as a small fastener distributor delivering to local companies. Over the past two decades HRSL has grown into a global distributor and importer of fasteners and specialty items. The Company currently has office locations in Tyler, Texas, Monterrey, Mexico and Monclova, Mexico. More information is available at www.hrslogisticsinc.com.
About Corporate Finance Associates
Founded in 1956, Corporate Finance Associates is one of the largest and most experienced middle-market M&A advisory and investment banking firms in the nation. CFA has offices across the United States, Canada, Mexico, India, and partner offices in Brazil, China, and throughout Europe. More information is available at www.cfachicago.com (http://www.cfaw.com/
Corporate Finance Associates