Fastenal

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Fastenal Company
Company type
Public
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Headquarters
Winona, Minnesota
,
U.S.
Number of locations
1,595 (2025)
Area served
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Key people
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  • Daniel L. Florness (CEO)
  • Max Tunnicliff (CFO)
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Total equityIncrease Template:US$ (2025)
Number of employees
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Websitefastenal.com
Footnotes / references
[1][2]

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Fastenal Company is an American publicly traded company based in Winona, Minnesota, founded in 1967. Fastenal is a major distributor of industrial and construction supplies, and the largest fastener distributor in North America. Fastenal provides supply chain solutions including bin stock, vending machines, inventory management, and logistics services. Fastenal placed 479 in the 2021 Fortune 500 based on its 2020 revenues,[3] and its stock is a component of the Nasdaq 100 and S&P 500 stock market indices. Fastenal had 3,334 in-market locations as of March 2023.[4]

History

Founded in 1967 by Bob Kierlin, the company was incorporated on December 24, 1968.[5] Fastenal's offerings include both purchased and manufactured products.

In January 2016, Daniel L. Florness became the President and CEO of Fastenal. Florness started with Fastenal in 1996 as the company's chief financial officer.[6] In 2025, Fastenal announced President and CSO Jeff Watts would succeed Florness in July 2026.[7]

Fastenal has been a sponsor of NASCAR since 2006, and in 2020, they became the official MRO partner of the NHL.[8]

In 2009, Fastenal acquired parts of Holo-Krome, a socket head screw-making company.[9] Fastenal then was added to the S&P 500 index in late 2008.[10][11]

Canada

Fastenal entered the Canadian market in 1994.[12] The company has branch locations in every province and two Canadian distribution centers.

Mexico

In 1999, Fastenal entered the market in Mexico.[12] Fastenal has branches in 14 of Mexico's states as well as a distribution center.[13]

Asia

Fastenal's Asian trading company, Fastenal Asian Sourcing and Trading Co, is a Wholly Foreign-Owned Enterprise located in Shanghai, China, where it directs sourcing[14] and import purchasing activities. Opened in 2001, Fastenal's Singapore location was its first site outside North America.[15] By 2009, sales operations in Shanghai were complemented by those in its larger neighbor Malaysia.[9] Locally incorporated Fastenal Malaysia Sdn Bhd is associated with Fastenal's Malaysian activities. The company runs an A2LA accredited testing laboratory in this nation as of 2014.

Products and services

File:Quakertown Fastenal location April 30 2018.jpg
2018 Bolt Award winning branch located in Quakertown, PA

Fastenal first sold mostly fasteners such as screws, threaded rods, and nuts, which are used in construction and manufacturing.[5] Today's product range is more diverse, and the company had a total of 690,000 individual products as of 2010.[16] In addition to a plethora of SKUs, the company offers a variety of services, including inventory management, small fastener manufacture, vending and machining.[17]

Fastenal has retail stores in every U.S. state,[18] every province of Canada,[13] 14 Mexican states,[13] Puerto Rico[18] and Panama.[18]

As of 2000, the company employs 400-plus people at six manufacturing locations,[9] including one manufacturing bolts made using a newer method, cold heading, in Rockford, Illinois;[9] an operation in Wallingford,[9] Connecticut, and another in Malaysia, etc.[9]

Internationally, Fastenal has sites in China, Dominican Republic, Hungary, Malaysia, the Netherlands, Germany, Singapore and the United Kingdom.[18] In 2006, the company had two sourcing offices in Asia, China and Taiwan. Both have an accredited testing laboratory,[19] which, as of 2007, was A2LA certified.

File:Fastenal-5.jpg
Fastenal in Winona
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See also

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References

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  1. ^ Page Module:Citation/CS1/styles.css has no content."Fastenal Company 2025 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. February 5, 2026.
  2. ^ Page Module:Citation/CS1/styles.css has no content."Fastenal Names New Chief Financial Officer and Senior Executive Vice Presient". investor.fastenal.com. Fastenal. November 3, 2025.
  3. ^ Page Module:Citation/CS1/styles.css has no content."Fastenal". Fortune. Archived from the original on 2019-01-19. Retrieved 2021-12-30.
  4. ^ Page Module:Citation/CS1/styles.css has no content."About Us | Fastenal". www.fastenal.com. Archived from the original on 2022-01-31. Retrieved 2021-06-10.
  5. ^ a b Fastenal Co (FAST.O) Script error: No such module "webarchive". Fastenal About Us
  6. ^ Page Module:Citation/CS1/styles.css has no content."Fastenal Company - Management". Archived from the original on 2016-01-02. Retrieved 2016-02-19.
  7. ^ Page Module:Citation/CS1/styles.css has no content."Fastenal Announces CEO Transition". investor.fastenal.com. Retrieved 2026-01-16.
  8. ^ Page Module:Citation/CS1/styles.css has no content."Fastenal Named NHL's Official MRO Partner Through 2024". Industrial Distribution. 2020-08-19. Retrieved 2022-09-28.
  9. ^ a b c d e f President’s Letter to Shareholders (2009)[permanent dead link] Fastenal Official Site
  10. ^ Salesforce.com, Fastenal to Replace Fannie, Freddie in S&P 500 bloomberg.com, September 9, 2008 17:45 EDT
  11. ^ Page Module:Citation/CS1/styles.css has no content."Fastenal Company stock forecasting". Archived from the original on 2017-02-02. Retrieved 2017-02-01.
  12. ^ a b Page Module:Citation/CS1/styles.css has no content."EX-21 Fastenal List of subsidiaries". U.S. Securities and Exchange Commission. Retrieved 2022-07-21.
  13. ^ a b c Fastenal Company to Acquire Holo-Krome Company Script error: No such module "webarchive". Fastenal Official Site, December 9, 2009
  14. ^ President’s Letter to Shareholders 2004[permanent dead link] Fastenal Official Site
  15. ^ President’s Letter to Shareholders (2008)[permanent dead link] Fastenal Official Site
  16. ^ UPDATE 1-Fastenal Q3 results beat market estimates reuters.com, Tue Oct 12, 2010 8:33am EDT
  17. ^ About Us (Video) Script error: No such module "webarchive". Fastenal official site
  18. ^ a b c d Home > About Us > Company Overview > Distribution Overview Script error: No such module "webarchive". Fastenal Official Site
  19. ^ President’s Letter to Shareholders 2006[permanent dead link] Fastenal Official Site

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