From $10M Startup to National Catalog Powerhouse

The acquisition

In 1984, Waxman Industries acquired Barnett Brass & Copper, then doing roughly $10 million in annual sales, paying about $12.5 million in cash and credit. The deal was Waxman's strategic entry into direct-mail and hardware-supermarket distribution.

Scaling the business

• Expanded mail-order reach: Waxman fueled Barnett's growth by integrating its own product lines into Barnett's catalog. Annual sales quadrupled, from roughly $28M to $100M by 1995, driven by broader product offerings and aggressive catalog expansion.
• Distribution network: Barnett grew from one remote warehouse to a national footprint of 25 to 32 distribution centers by the late 1990s, drastically cutting delivery times and boosting customer satisfaction.
• New catalogs: By adding specialized catalog lines for professionals, maintenance pros, and hardware retailers, Barnett increased mailings from 2.5M to 4.5M and grew the customer base from about 13,000 to about 51,000 in a single year.

IPO and continued momentum

In April 1996, Barnett went public, fueling further expansion, doubling mail-order reach, and breaking the $100 million revenue barrier.

In 1997, Barnett acquired LeRan Gas Products from Waxman, added new warehouses in Milwaukee and Puerto Rico, and grew its item catalog by 1,800 SKUs.

What Waxman brought to the table

• Funded overseas packaging facilities, including Taiwan, enabling low-cost sourcing.
• Shared its product lines and infrastructure to bolster Barnett's market offerings and warehousing efficiency.

Why founders love this story

• Fast, strategic scale-up: from about $10M to triple-digit millions through proven catalog and distribution playbooks.
• Tactical integration: operational know-how, sourcing, and warehousing from Waxman accelerated growth early, without derailing autonomy.
• Exit-ready architecture: repeatable growth systems, multiple catalogs, and 30+ warehouses left Barnett poised for liquidity events, with an IPO in 1996 and a sale in 2000.