1984 to 1986
Strategic Acquisitions That Drove Market Leadership
How Waxman expanded its reach through a disciplined M&A strategy.
- Acquisition period
- 1984 to 1986
- Flagship purchase
- Barnett Brass & Copper
- Outcome
- Nationwide reach and an expanded product portfolio
The situation
By the early 1980s, Waxman Industries was a respected national distributor, but the leadership saw more opportunity. The home improvement sector was consolidating and competition was intensifying. Larger rivals offered wider product assortments and greater geographic reach. Waxman needed to scale quickly to compete for major retail contracts.
The strategy
Adopt a targeted acquisition strategy focused on companies that would bring complementary product categories, new geographic coverage, established customer relationships, and operational efficiencies through integration.
The execution
- 1984: Acquired Barnett Brass & Copper for $12.5M, gaining a thriving mail-order plumbing and electrical business.
- 1985: Purchased LeRan Gas Products for $3.7M to expand into gas and heating supplies.
- 1986: Added Select-Line Products and Keystone Franklin, boosting electrical and ceiling fan accessory lines.
- Acquired Medal Distributing and Singer Hardware to strengthen regional distribution hubs.
The results
These acquisitions grew Waxman's catalog to thousands of SKUs, expanded its customer base nationwide, and increased bargaining power with suppliers. The PlumbCraft, Electracraft, and Fancraft brands became household names.
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