Merger in the fastener field

Winona, Minn.-based Fastenal Co. agreed to acquire Holo-Krome, a domestic manufacturer of socket head screw products.

The move won't be a game-changer for construction supply specialist Fastenal -- Holo-Krome 's annual sales are less than 1% of Fastena'ls -- but along with the blockbuster Stanley-Black & Decker deal, it shows a slight warming in the tool-related merger-and-activity market.

And according to the plan's architects, the two companies make a good fit.

"The Holo-Krome brand has been synonymous with quality and reliability for 80 years," said Fastenal President and CEO Will Oberton. "We believe it will be an excellent addition to Fastenal's expansive product offering and aligns very well with our mission of 'Growth through Customer Service.'"

As of Nov. 30, Fastenal operated 2,357 stores. It had $2.3 billion in revenue last year, up from $2.1 billion in the previous year.

West Hartford, Conn.-based Holo-Krome, founded in 1929, has a long history of fastener innovation. The company was organized around what was a revolutionary idea at the time -- the manufacture of socket screws by metal forming, or heading, rather than machining. More recently, the company invented what it calls the "thermo-forged process," which it says results in fasteners which are more precise, offer greater strength, and afford higher fatigue resistance.