BOLTS & NUTS CORP. ACQUIRES NASHVILLE-BASED CHALLENGER COMPONENT SERVICES EXPANDING PRODUCT OFFERING AND GLOBAL PRESENCE
FOR IMMEDIATE RELEASE
CHATTANOOGA, TN, August 28, 2017 – Bolts & Nuts Corp., a nationwide industrial distribution firm based in Chattanooga, Tennessee, announced it has acquired Nashville, TN-based Challenger Component Services, in support of its growth and expansion strategy. Challenger Component Services is a leading provider of highly engineered Class C products serving customers throughout the U.S., Canada, Mexico, Europe and Asia. With this acquisition, and with the addition of Challenger’s teams in Tennessee, Oklahoma and Alabama, Bolts & Nuts Corp will broaden its ability to serve its strategic manufacturers and OEMs, particularly in the automotive and transportation segments, both on and off road, in the US, Mexico, Canada, Europe and Asia, where Challenger maintains existing deep customer relationships. Currently, Bolts & Nuts serves customers in over 40 states, Mexico and Europe.
“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,” said Mike Strunk, CEO of Bolts & Nuts Corp.
According to Wade Moore, CEO of Challenger Component Services, “In combining with Bolts & Nuts, our team acquires the advantages of marrying up with a company whose core values focus on delivering value to our four key stakeholders: customers, team members, community and suppliers.”
As with its other locations in Tennessee, Kentucky, Georgia, North Carolina, Nebraska and Illinois, the Nashville, TN, and Chickasha, OK (in the Oklahoma City MSA) and Birmingham, AL teams will continue on the rapid growth trajectory that Moore and his team have embarked on for several years. Challenger will continue to utilize its expert global team to directly source parts both internationally and domestically.
Chattanooga-based Bolts & Nuts Corp. specializes in offering customized Vendor Managed Inventory and Value-Added Engineered Programs for fasteners, MRO & Industrial Supplies and Class C parts, focusing on increasing efficiency and reducing costs for our OEM customers in over 40 states, Mexico and Europe. Bolts & Nuts’ vision is to be the OEM manufacturer and Vendor Managed Inventory partner of choice as a sound, responsive and profitable partner, to supply goods and services of the highest quality, and to provide the best value for our customers’ dollars. Our goals are growth, success, and creation of wealth our customers, employees and stakeholders while being very active in the communities we serve.
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