Fastenal Company ranks as North America’s largest fastener distributor. Founded in 1967 in Winona, Minnesota, the company grew from a single storefront selling nuts and bolts into a global industrial supply leader.
Fastenal provides fasteners, safety equipment, tools, and MRO supplies to manufacturing and construction customers. The company operates over 3,400 in-market locations across 25 countries.
Beyond traditional distribution, Fastenal pioneered industrial vending technology. The company manages more than 100,000 vending devices at customer sites, transforming how businesses access and track their supplies.
Fastenal Company History
Fastenal Company Co-founders
Fastenal Company Revenue
Fastenal generated $7.55 billion in revenue during 2024, representing a 2.7% increase from the previous year. Manufacturing customers account for approximately half of all sales, with construction contributing roughly 30%.
Fastenal Company Competitors
Fastenal competes in the industrial distribution sector against broad-line suppliers and specialty distributors. The company differentiates through its vending technology and Onsite service model, which places dedicated personnel at customer facilities.
| Company | Headquarters | Primary Focus |
|---|---|---|
| W.W. Grainger | Illinois, USA | MRO Supplies, E-commerce |
| Home Depot Pro | Georgia, USA | MRO, Facilities Maintenance |
| MSC Industrial Direct | New York, USA | Metalworking, MRO |
| WESCO International | Pennsylvania, USA | Electrical, Industrial |
| Graybar Electric | Missouri, USA | Electrical, Communications |
| McMaster-Carr | Illinois, USA | Industrial Hardware |
| Uline | Wisconsin, USA | Packaging, Industrial |
| Applied Industrial | Ohio, USA | Bearings, Power Transmission |
| Amazon Business | Washington, USA | E-commerce, Industrial |
| Würth Group | Germany | Fasteners, Assembly |
Fastenal Company Market Cap
Fastenal’s market capitalization stands at approximately $55 billion as of December 2025. This ranks the company among the 400 most valuable publicly traded companies globally. The stock trades on NASDAQ under the ticker symbol FAST.
Fastenal Company Acquisitions
Fastenal has historically favored organic growth over acquisitions. Bob Kierlin built the company through disciplined expansion, opening new stores rather than purchasing competitors. This approach kept debt low and maintained the company culture.
In 2009, Fastenal acquired parts of Holo-Krome, a socket head screw manufacturer based in Connecticut. This deal strengthened the company’s fastener manufacturing capabilities and product offerings in specialty screws.
The company’s most significant acquisition came in 2017 when Fastenal purchased Manufacturer’s Supply Company for $60.4 million. Mansco, based in Hudsonville, Michigan, brought a strong position with commercial furniture OEMs and expanded Fastenal’s footprint in Alabama and Texas.
In March 2020, Fastenal acquired key assets from Apex Industrial Technologies, its vending partner since 2008. This transaction included patents, software, designs, and supply chain access that supported over 105,000 vending devices across 25 countries. The deal secured Fastenal’s control over a technology platform generating more than $1.1 billion in annual sales.
Rather than acquiring competitors, Fastenal builds customer relationships through its Onsite model. The company places dedicated personnel and inventory directly at customer facilities. This approach functions like a soft acquisition, embedding Fastenal into customer operations without purchasing the business. Companies like 3M and Caterpillar rely on industrial distributors like Fastenal to reach end customers efficiently.
FAQs
When was Fastenal Company founded?
Fastenal was founded in 1967 by Bob Kierlin and four partners in Winona, Minnesota. The company was officially incorporated on December 24, 1968.
What does Fastenal sell?
Fastenal sells fasteners, safety equipment, cutting tools, power tools, janitorial supplies, and over 690,000 industrial and construction products through stores and vending machines.
Where is Fastenal headquartered?
Fastenal is headquartered in Winona, Minnesota. The company operates over 3,400 in-market locations across 25 countries including the United States, Canada, and Mexico.
Is Fastenal a Fortune 500 company?
Yes, Fastenal ranks on the Fortune 500 list. The company also joined the S&P 500 index in 2008 and trades on NASDAQ under the ticker symbol FAST.
What is Fastenal’s vending technology?
Fastenal operates over 100,000 industrial vending devices at customer sites. These FASTVend machines dispense tools, safety equipment, and supplies while tracking usage and inventory.