Fastenal Co. history, profile and history video
Fastenal Co. engages in wholesale distribution of industrial and construction supplies. The company offers its products under the brand Fastenal. Its products are classified into two broad categories, which include threaded fasteners, such as bolts, nuts, screws, studs and related washers; and miscellaneous supplies and hardware, such as various pins and machinery keys, concrete anchors, metal framing systems, wire rope, strut, rivets, and related accessories. The company was founded by Robert A. Kierlin in November 1967 and is headquartered in Winona, MN.“
The Fastenal story began in 1967 when Bob Kierlin pooled together $30,000 with four friends and opened the first Fastenal store, a 1,000 sq. ft. shop in his hometown of Winona, MN. (The original business plan was to dispense nuts and bolts via custom vending machines, but the technology proved impracticable at the time. Several decades would pass before Fastenal finally popularized industrial vending.)
After surviving the typical struggles of a startup business, Fastenal gradually found its niche – by going the extra mile for customers and providing the kind of service that kept them coming back. Kierlin later drilled this approach down to four simple words: Growth Through Customer Service.
This motto has guided us forward as we’ve grown from a small regional supplier into one of the world’s most dynamic growth companies – from one store to more than 2,600 and counting. Along the way, we’ve aggressively invested in things that make a difference for our customers, continuously improving a multifaceted service network that today includes:
- A stringent quality management system anchored by our engineering teams and testing laboratories around the world.
- Thousands of manufacturer-partners, making each Fastenal store a one-stop source for a huge range of OEM, MRO and Construction products.
- A multi-site custom manufacturing division, quickly producing machined, hot forged and cold formed parts to provide solutions for our customers.
- Regional distribution centers across North America, working with local stores to anticipate customer demand and keep product flowing when and where it’s needed.
- A large fleet of big trucks and local delivery vehicles, enabling us to move product faster and more cost-effectively than the competition.
- The world’s largest industrial vending program, FAST Solutions, helping thousands of customers reduce consumption and operate more efficiently.
- And at the heart of it all: 2,600-plus Fastenal stores spanning all 50 U.S. states, Canada and Mexico, with additional locations in Central and South America, Europe and Asia – each striving to be the best industrial supplier in the market it serves.”
*Information from Forbes and Fastenal.com
**Video published on YouTube by “Fastenal“