TAMPA, FLA.-BASED BOLT & NUT INC. ACQUIRED BY THREADED FASTENERS INC.
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TAMPA, FLA. -BASED BOLT & NUT INC. ACQUIRED BY THREADED FASTENERS INC.
MOBILE, Ala. (Jan. 5, 2018) - Tampa, Fla.-based Bolt & Nut Inc., a manufacturer and distributor of fasteners founded 40 years ago by entrepreneur Bob Cornett, has been acquired by Threaded Fasteners Inc.
Mobile, Ala.-based Threaded Fasteners Inc. is joining forces with the Bolt & Nut sales and manufacturing teams to create an even more dynamic platform to serve commercial and industrial clients in Florida and the Southeastern U.S., the new owners said.
Bob Cornett, 78, will continue to own and operate Tampa-based, Hurri-bolt Inc., a manufacturer of hurricane bolts, as a separate business, he said.
In 2013, Threaded Fasteners opened a location in Tampa on Currie Davis Drive. After Jan. 5, 2018, the TFI team will merge with the 21-member Bolt & Nut Inc. staff to do business at the Bolt & Nut location on 46th Street. That facility offers more than 50,000 square-feet of manufacturing space and sales offices near the campus of the University of South Florida.
Cornett said a shared belief in Christian values paved the way for the acquisition of Bolt & Nut Inc. by Threaded Fasteners.
For years, other businesses have approached Cornett about selling his manufacturing firm founded in 1977. The timing, he said, had never been right, until now.
“From the first time I met the Threaded Fasteners leadership team, we had a common bond and that was the Lord,” Cornett said. “It was truth right off the bat. If it hadn’t been for the Lord, I don’t think this would have ever happened.” (Photo: Bob Cornett)
Billy Duren, president of Threaded Fasteners Inc., said TFI’s goal is to continue building on the foundation and principles Cornett spent four decades cultivating in Tampa and across the globe.
“Bob Cornett has such an incredible story of success you just can’t help but be intrigued,” Duren said. “I’ve discovered Mr. Bob’s word is as good as a 40-page legal contract. I have come to greatly admire him and in the past few months we have forged a genuine friendship.”
With nearly 53 years in the manufacturing business, Cornett said he believes this is a great time to invest in Florida. The Tampa Bay area is experiencing huge growth now in the form of long-term construction projects, among other initiatives.
“I see tremendous potential in this area,” Cornett said. “I think there’s going to be a boom for at least the next five to eight years.”
ABOUT BOLT & NUT INC.
Founded in 1977 by Bob and Linda Cornett, the company began as a fastener maintenance distributor to the phosphate mining industry in central Florida. In 1991, Tampa-based Bolt & Nut Inc. expanded into manufacturing. A major impact project came in 1994 with the manufacture and supply of sub-structure anchor bolts for a power plant. Then, the company began manufacturing and supplying fastener products. Featured projects include: U.S. Census Bureau building in Washington, D.C., a seawall project in Murmansk, Russia, two fertilizer plants in China, power plant projects in Turkey and Puerto Rico, theme parks in Florida and the Caribbean, sports stadiums in Tampa Bay, and numerous water treatment plant projects in Florida, the Caribbean Islands and Australia.
ABOUT THREADED FASTENERS INC.
Founded in 1979, Mobile, AL-based Threaded Fasteners Inc. (TFI) is an employee owned business that specializes in the manufacturing, custom packaging and distribution of steel fasteners, including tower and electric utility bolts, anchor bolts, A325 structural bolts, A394 tower bolts, nuts, washers and more. Its Custom Manufactured Parts division works to develop specialty materials for clients. With more than 160 dedicated employee owners, TFI maintains $4.5 million worth of inventory across six distribution warehouses, from Alabama to Mississippi, Florida, Oklahoma, and Tennessee, to meet the global needs of customers from industries including power generating utilities, chemical and electrical, commercial marine construction, stainless steel fabricators, metal building manufacturers and Department of Transportation (DOT) fabricators. More information about TFI can be found on its website at threadedfasteners.com or through social media platforms including Facebook, LinkedIn and Twitter.
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