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Elgin Seeks Top Status Among North American Fastener Manufacturers
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2013-05-20
Elgin Fastener Group LLC announced it has acquired Vegas Fastener Manufacturing.
The Vegas announcement came a week after Elgin acquired Telefast Industries of Ohio, CEO Jeff Liter said Vegas Fastener represents "a major advancement in EFG's goal to become the premier North American supplier of specialty fasteners."
Founded in 1998, the Las Vegas-based manufacturer operates forging presses, computer-controlled turning centers, vertical CNC mills and CNC bar feeders.  Customers include power generation, marine/naval transportation, oil and gas, diesel engine, food processing, power turbine, water works and general industrial markets.
EFG, headquartered in Batesville, Indiana, now totals nine U.S. specialty fastener manufacturers: Ohio Rod Products, Leland Powell Fasteners, Chandler Products, Silo Fasteners, Landreth Fastener, Quality Bolt & Screw, Northern Wire, Telefast Industries, and Vegas Fastener Manufacturing; plus Best Metal Finishing. EFG is a portfolio company of Audax Group.
Vegas Fastener Manufacturing was owned by Richard Lassiter, Ed Cebulko and Jim Foytik, who averaged 30 years in the industry. In 2003 Vegas Fastener moved into a state-of-the-art, 100,000 sq ft facility, which houses hundreds of machine tools, including 10-ton through 750-ton forging presses; computer-controlled turning centers; vertical CNC mills; and CNC bar feeders.
Liter described Telefast as "a natural fit for our acquisition strategy as they expand our manufacturing capabilities to include the cold heading of internally threaded fasteners. Founded in 1986 by Jeff Ferry and Kathleen Ferry as a manufacturer of internally threaded fasteners supplying distributors, today Telefast produces both internally and externally threaded products for distribution, automotive, agriculture, construction, government and after-market/MRO industries. Jeff Ferry, who was fourth generation in the fastener business, died in 2002.
The Ohio fastener manufacturing company in the news may be only 27 years old, but it touches on four generations of industry and Ohio history. Founded in 1986 by Jeff Ferry and Kathleen Ferry, Telefast Industries Inc. marked its 25th anniversary in 2011. But the owners' family stories go back for generations. The acquiring company, Elgin, is better known in the public for a product other than fasteners.
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by John Wolz, Editor of FIN (www.globalfasteners.com) arranged by Fastener World Inc.
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