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Fastenal acquires assets from Apex Industrial Technologies

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April 1, 2020

Fastenal, a leader in automated industrial supply distribution, has purchased certain assets of Apex Industrial Technologies LLC for an undisclosed sum, according to a Yahoo Finance report. The terms of the deal have not been disclosed.

Since 2008, the two companies have worked together to develop more than 105,000 product dispensing and leased devices across 23 types of devices in 25 countries. Apex has developed the software, designed the equipment, as well as its vending equipment supply chain, according to the report. Conversely, Fastenal has provided the some of the technology. 

In addition to certain assets, Fastenal also purchased a perpetual and unfettered use of patents, designs, software and licenses, along with a direct access to the supply chain.