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Local fastener distributor announces merger
Online Staff Report
MACHESNEY PARK, Ill. — Field, a global distributor of fasteners and other small components, has announced a merger with HRS Logistics. 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 percent growth since 1990 and plans to sustain high growth and reach $100 million in revenue in the next few years.
Field’s Chairman Bill Derry said: “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. We are fired up about the future.”
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 percent 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. “With Field and our experienced and dedicated employees, we will better serve and supply our customers for now and the future.”
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. Field and HRS Logistics have an experienced, cross-functional team dedicated to seamlessly integrating the two businesses and minimize the change felt by customers, suppliers and team members.
Derry added: “There are significant synergies between the companies that will improve both organizations when combined. Both companies share a culture of servicing customers in a family business environment with passionate team members. The combined company will provide greater opportunities for our team, increased capabilities for our customers, and a larger spend with our strategic suppliers. We are excited about bringing the strengths of Field and HRS Logistics together!”
About Field Fastener
Field is a full-service, technically oriented, global provider of inventory management and complete supply chain solutions for fasteners and other Class “C” items. They are the best in the industry at providing ongoing cost reduction through both technical support services and inventory management systems. The Illinois-based company was acquired by Derry Enterprises, Inc., in 1990. Over the past 20 years, Field has averaged 20 percent annual growth each year, and for the third consecutive year has been recognized by Inc. Magazine as one of the fastest-growing private companies in America. Field serves more than 900 customers worldwide. To learn more about Field Fastener, call (815) 637-9002 or visit them online at http://www.fieldfastener.com. The company is at 9883 N. Alpine Road, Machesney Park, Ill.
About HRS Logistics
HRS Logistics started in 1972 as a small fastener distributor delivering to local companies. Over the past two decades, HRS Logistics has grown into a global distributor and importer of fasteners and specialty items. HRS Logistics has offices in Tyler, Texas; Monterrey, Mexico; and Monclova, Mexico. HRS Logistics operates VMI programs across the South and into Mexico. To learn more about HRS Logistics, call (903) 581-5767 or visit them online at http://www.hrslogisticsinc.com.
Posted July 10, 2014