On October 3, 2017, Lawson Products, Inc. (NASDAQ: LAWS) announced the acquisition of The Bolt Supply House Ltd. for a purchase price of approximately $40 million, subject to customary post-closing price adjustments. The purchase price was funded with cash on hand and utilization of Lawson’s existing credit facility. The transaction marks Lawson’s fifth and largest acquisition in 24 months and more than doubles its sales in Canada.
The Bolt Supply House, based in Calgary, Alberta, is a leading Canadian distributor of high quality fasteners, power tools and industrial MRO supplies. The company will operate under its brand as a subsidiary corporation of Lawson’s Canadian operating company.
Lawson Products is an industrial distributor of maintenance and repair products. The company carries a comprehensive line of products and provides inventory management services to the industrial, commercial, institutional and government maintenance, repair and operations (MRO) market.
Miller Thomson advised Lawson Products in this acquisition with a team that included Regan O’Neil and Bryant Frydberg (corporate/tax); Robyn Enslen (corporate); Jill Wilkie, Stephen Torscher and Ashley Mitchell (labour and employment); and Ruben Sekhon and Stewart Berringer (real estate); assisted by student-at-law Allen Fowlis.