BIRMINGHAM, Ala. (April 8, 2016) – Founders Investment Banking, LLC is pleased to announce that Würth Group (Würth) has purchased substantially all of the assets of House of Threads, Inc. (House of Threads), a leading distributor of fasteners. House of Threads’ shareholders were exclusively advised by Founders Investment Banking. The transaction closed on April 1, 2016 and was led by Duane P. Donner II and Joe H. Brady III of Founders.
House of Threads was started in 1963 by Fletcher Yeilding and has become one of the nation’s largest fastener distributors with 108 employees and more than 1,200 active customers.
“On behalf of our employees and the Yeilding family, we are excited to be joining the Würth team. I want to thank everyone who has made the vision of providing excellent customer service and quality products a reality and for their relentless effort to make House of Threads the industrial distribution sector’s, “supplier of choice.” Würth immediately brings a wealth of knowledge and logistics solutions that propels us into an accelerated phase of growth. This consolidation will allow House of Threads to enhance our customer service to existing accounts and support additional customers within the construction and OEM industries in the most professional manner,” said Foster Yeilding, President of House of Threads. “Founders’ knowledge and experience within the fastener space was paramount in working with us to source and select the right partner for House of Threads. I can’t thank the Founders team enough for their advice, dedication, and hard work in getting the transaction done,” he added.
Würth said House of Thread’s strong presence in the southeast U.S. and central Mexico will strengthen Würth Industry of North America’s (WINA) long-term strategy, and Würth expects to enhance House of Threads’ service offerings through VMI solutions, engineered sales support, global sourcing and more.
“We also look for them to be a national leader in the construction fastener market,” said Würth Executive Vice President Marc Strandquist. “House of Threads is an iconic brand in the fastener distribution industry since the 1960’s, and we couldn’t be more proud to have the Yeilding brothers, Foster and Lee, be a part of our team.”
“The Founders team really enjoyed working with Foster and his great team on this deal. We are delighted to have been able to serve the family on this transaction, and look forward to seeing the future success of House of Threads in its combination with Würth. We love the industrial space and this is a great example of the type of solid strategic partnership we like to put together.” said Joe Brady, Director at Founders Investment Banking.
About Founders Investment Banking, LLC
Founders Investment Banking is a merger and acquisition advisory firm based in Birmingham, Alabama. Its team’s proven expertise and process-based solutions help companies and business owners access capital and prepare for and execute liquidity events to achieve specific financial goals. The firm focuses on healthcare, oil and gas, and industrial clients located across the Southeast, and also has a technology practice with a national presence. For more information, visit www.foundersib.com. In order to provide securities-related services discussed herein, certain principals of Founders are licensed with M&A Securities Group, Inc. or Founders M&A Advisory, LLC, both members FINRA & SiPC. M&A Securities Group and Founders are unaffiliated entities. Founders M&A Advisory is a wholly owned subsidiary of Founders. The testimonial presented herein does not guarantee future performance or success.
About House of Threads, Inc.
House of Threads is headquartered in Birmingham, Alabama and markets and distributes fasteners. The Company was founded in 1963 and distributes virtually all of the products within the fastener category and class C production components to OEM (Industrial Machinery & Equipment, Transportation & Logistics, and Agricultural Machinery) and Construction clients. These distributed products are sourced from domestic and international vendors. Additional information is available on the Company’s web site, www.houseofthreads.com.
About Würth Industry of North America
The Würth Group is the world’s market leader in its core business, the trade in assembly and fastening materials, with more than EUR 11,045 billion sales for 2015. It currently consists of 400 plus companies in more than 80 countries and nearly 69,000 employees on its payroll. The Würth Group is extremely proud to have the largest direct sales force on the globe with around 32,000 permanently employed sales representatives. In the Group’s core business, the Würth Line, the product range for craft and industry comprises more than 100,000 products: from screws, screw accessories, anchors and tools to chemical products and personal protective equipment. Further information about WINA can be found at www.wurthindustry.com.