Würth Group acquires House of Threads
Künzelsau. The Würth Group has announced the acquisition of the U.S. company House of Threads, based in Birmingham, Alabama, and its sister company based in Querétaro, Mexico. Würth House of Threads is now part of Würth Industry of North America (WINA), one of the largest providers of assembly technology in the USA. Supplying original equipment manufacturers (OEMs) and commercial construction companies with a range of assembly material and other C-parts, the Würth House of Threads business supports WINA's continued growth strategy and boosts its access to new and adjacent markets. House of Threads, founded in 1963 generated sales in the amount of USD 42.1 million for 2015. It currently has 108 employees on its payroll and has over 1,200 active customers.
"WINA's growth strategy is to expand our core assets into profitable, complementary market segments and locations," said Marc Strandquist, Executive Vice President of the Würth Group. House of Threads strengthens Würth's presence in the economically strong U.S. Southeast and grants WINA access to the market in Central Mexico. "We are excited to be joining the Würth team," says Foster Yeilding, President of Würth House of Threads, who looks forward to profiting from the Würth Group's wealth of resources, experience and knowledge. "This consolidation will allow us to enhance our customer service for existing accounts and acquire additional customers within the construction and OEM industries."
WINA is currently comprised of nine companies, which primarily serve the OEM market by providing vendor management inventory programs through their proprietary brand, CPS® C-Parts Solutions. Würth House of Threads is WINA's fourth acquisition in the last two years.
About the Würth Group
The Würth Group is the world's market leader in its core business, the trade in assembly and fastening materials. According to the preliminary annual financial statement, the Würth Group generated EUR 11.05 billion in sales in the business year 2015. It currently consists of more than 400 companies in over 80 countries with more than 69,000 employees on its payroll. In the core business of the Würth Line, the product range for trades and industry comprises over 125,000 products: from screws, screw accessories, anchors and tools to chemical-technical products and personal protective equipment.