FastenTech acquires fastener manufacturer for $17.2 million

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FastenTech, a privately-held manufacturer of components for several industries including trucking, has announced that it has acquired BNC & Associates for $17.2 million. BNC, which operates through its Stud Welding Associates subsidiary, makes stud-welded fasteners and systems for a variety of industries. Chagrin Falls, Ohio-based BNC will become a unit of FastenTech’s specialized components segment.

“BNC represents an excellent strategic fit and presents us with numerous opportunities to further capitalize on our already strong position in the stud-welding industry,” says Ron Kalich, president and chief executive officer of Bloomington, Minn.-based FastenTech.