Founded in 1986, Heads & All Threads is described in the announcement as a leading European supplier of supply chain management services with operations in the UK, Czech Republic, Poland, and India. The company specialises in developing vendor-managed inventory programs of fasteners, machined parts, and other class C components to many end markets, including construction, automotive and various EMS markets.
Edward F. Crawford, Chairman and Chief Executive Officer at ParkOhio said: “The strategic acquisition of Heads & All Threads, with annual revenues of approximately $35 million, will immediately be accretive to earnings. HAT has an impressive history of sales growth and will strengthen our market position for supply chain management services.”
Originating in 1907 and headquartered in Cleveland, Ohio, ParkOhio operates from around 125 locations in 20 countries, employing 6000 people. It generated annual revenues in 2016 of US$1.3 billion. ParkOhio’s Supply Technologies segment specializes in Total Supply Management™ with the single goal of giving “any manufacturer of any size a greater ability to build its products, better, smarter and fastener than ever before”. Supply Technologies operates from thirty locations in North America, ten in Europe and nine in Asia. The segment includes the RB&W branded cold forming production facilities in Ohio, USA and Ontario, Canada. RB&W has offices in the UK and Shanghai, and representation in Mexico, Germany, and South Korea. The Supply Technologies segment accounted for 39% of Park-Ohio sales in 2016 (c US$500 million) and employs 1300 people worldwide.
ParkOhio’s Assembly Components, which accounted for 42% of 2016 sales, manufactures highly engineered components, notably in Aluminium but also moulded rubber and plastic, for major OEM assemblies, destined for automotive, agricultural and materials handling machinery, engines and industrial equipment. The Engineered Products segment operates a diverse range of manufacturing businesses, including induction heating and melting systems, tube and pipe threading and bending, and forged and machined components.
Having held senior management roles in leading automotive and fastener businesses, Phil joined Fastener + Fixing Magazine as editor in 2002. Convinced there is no substitute for ‘being there’, 15 years of visits and interviews around the world mean he has accumulated an extraordinary knowledge and perspective of the global fastener industry, reflected in his incisive and thought provoking reporting.