Several news outlets are reporting the acquisition of Challenger Component Services by Bolts &Nuts Corp (SOURCES: Industrial Distribution & Times Free Press).
UPDATED: The news has been confirmed by Bolts & Nuts.
Bolts & Nuts Corp is an industrial distributor company based in Chattanooga, Tennessee. Nashville's Challenger provides c-class products for customers in North America, Mexico, Europe and Asia.
The move will extend Bolt & Nuts Corp's reach in areas including automotive and transport sectors.
Mike Strunk, CEO of Bolts & Nuts Corp, said: “We are excited to welcome Wade Moore, who will continue to run this important business for us as President of Challenger Component Services, his fantastic team and their valuable customer base to become a part of the Bolts & Nuts Corp. family.
"We are eager to broaden our reach for our customers, supporting economic development, job creation and contribution to the Tennessee, Oklahoma and Alabama communities that is core to the Bolts & Nuts values."
A little over a month earlier in July 2017, Bolts & Nuts Corp revealed it was to acquire Industrial Fastening of Macon. Bolts & Nuts Corp offers customised vendor managed inventory and value-added engineering programs for fasteners, MRO & Industrial Supplies and c-class parts.
