Fasteners Inc., a Spokane-based fastener and tool distributor, has bought the inventory and equipment of Acco Cable Splicing, a Troy, Mont.-based rigging company, for an undisclosed sum, says Bill Jones, general manager of Fasteners.
Jones says Fasteners has hired Acco Cable%u2019s two previous owners and has begun operating a full-service rigging shop in a 4,000-square-foot warehouse it%u2019s leasing just north of its headquarters in the 800 block of north Yardley Road.
Rigging companies provide rope, wire rope, chains, cables, clips, and other items that are used to secure and lift heavy loads. Fasteners also will offer wire splicing and custom wire rope manufacturing.
Fasteners, which has 11 retail locations in Washington, Idaho, and Montana, plans to open an additional rigging shop at its facility in Lewiston, Idaho, and already has hired two additional employees there to operate the rigging venture, Jones says.
He says the company decided to begin offering rigging services in response to increasing demand from its diverse group of customers, which includes contractors, original equipment manufacturers, and maintenance repair organizations.
Fasteners was founded here in 1961 and sells industrial supplies and fasteners through its retail outlets and on the Internet, and also maintains an on-site service division that keeps customers supplied with the fasteners and tools they need by managing their inventory and delivering items when necessary.
The business employs about 60 people in Spokane and about 175 companywide, which is up about 8 percent from last year, says Jones. He says the company has continued to grow by focusing on value-added services such as its on-site division, in addition to selling tools and fasteners. Fasteners has "definitely had a growth year," says Jones.