Axxis is a manufacturer and distributor of fastening tools and fasteners for industrial, packaging, and wood-to-wood applications — primarily under the Complete and KlinchPak brands. It mainly serves STAFDA distribution and packaging houses.
The combination with Axxis further enhance PrimeSource’s portfolio of branded fasteners and related fastening tools.
Carl Schneider, CEO of Axxis, will remain involved as part of the PrimeSource team focused on accelerating Axxis’ growth.
“We are excited to join the PrimeSource team and we look forward to leveraging the strengths of their operational expertise to expand and grow the excellent products and services our customers have come to expect from Axxis,” he said. “This is a milestone to be celebrated and we look forward to the next chapter of growth with PrimeSource.”
“We look forward to enhancing our pneumatic fastener portfolio with the acquisition of Axxis, which will provide both a broader offering to existing customers and entrée to new customer segments for PrimeSource,” added Tom Koos, president and CEO of PrimeSource. “We remain committed to delivering the broadest array of value-added products and services to our increasingly diversified customer base.”
The transaction is PrimeSource’s fourth acquisition during Clearlake’s ownership. Financial terms were not disclosed.
“This transaction further enhances PrimeSource’s sales and service offering by adding depth to the company’s product catalogue and expanding its customer reach,” said Ben Kruger, senior VP with Clearlake. “We look forward to leveraging our O.P.S. framework to integrate the platforms and continue driving accelerated growth through both organic and inorganic initiatives.”