PrimeSource acquires fastener provider Axxis
PrimeSource Brands has acquired Axxis, LLC, a provider of fastening tools and collated fasteners.
Axxis, which goes to market under the Complete and KlinchPak brands, primarily serves STAFDA distribution and packaging houses. Established in 2008, Axxis is a distributor of third-party fastening tools and fasteners for industrial, packaging, and wood to wood applications.
PrimeSource said Axxis will further enhance the company’s portfolio of branded fasteners and related fastening tools. Carl Schneider, CEO of Axxis, will remain involved as part of the PrimeSource team focused on accelerating Axxis’ growth.
“We look forward to enhancing our pneumatic fastener portfolio with the acquisition of Axxis, which will provide both a broader offering to existing customers and entrée to new customer segments for PrimeSource,” said Tom Koos, president and CEO of PrimeSource. “We remain committed to delivering the broadest array of value-added products and services to our increasingly diversified customer base.”
PrimeSource Brands is a national provider of specialty branded residential building products. The company's product offering spans more than 60,000 SKUs, including construction fasteners, cabinet knobs and pulls, fence and gate hardware, railing systems and infill, and perimeter security solutions.
“We are excited to join the PrimeSource team, and we look forward to leveraging the strengths of their operational expertise to expand and grow the excellent products and services our customers have come to expect from Axxis,” said Schneider. “This is a milestone to be celebrated and we look forward to the next chapter of growth with PrimeSource.”
The transaction is PrimeSource’s fourth acquisition since under the ownership of Clearlake Captial Group. Financial terms were not disclosed.
Last June, PrimeSource acquired building products distributor and manufacturer Wolf Home Products.
PrimeSource Brands serves over 43,000 customer locations through 56 distribution centers in 31 states. Clearlake acquired PrimeSource at the end of 2020.
