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Alaska Rubber Group Completes Washington Acquisition

ANCHORAGE, Alaska--()--The Alaska Rubber Group has acquired five additional locations, effectively doubling the size of its employee owned organization.

The Alaska Rubber Group, consisting of three locations within Alaska, Anchorage, Fairbanks, & Wasilla, has purchased five additional locations in Washington. The five additional locations were formerly referred to as the Pacific Rubber Group, and they consist of stores throughout Washington serving the entire Pacific Northwest region. Pacific Rubber Inc. located in Seattle, TIMCO Inc. at the Port of Tacoma, North Sound Hose and Fittings in Everett, Central Hose and Fittings in Pasco, and Inland Pacific Hose and Fittings in Spokane comprise the Washington locations. The Alaska Rubber Group is the largest distributor of hydraulic and Industrial hose, fittings, and rigging supplies in Alaska. This acquisition expands the market presence and distribution capabilities of its employee owned organization across the entire Pacific Northwest.

President and CEO Janeece Higgins said about the acquisition: “We’re always exploring opportunities for growth, and it is exciting to see where this new addition to our group will take us. Some of the former owners of the Washington stores, Don and Drennon Adams were the original founders of our Alaska locations. We all started with a very similar model. It’s kind of in our DNA. I have known some of the employees in the Washington stores for years, and the knowledge and experience they bring will help shape the future of the company. Everyone involved is critical to the team, and I look forward to their new ideas, hard work, and the growth that we will experience going forward.”

Each location within the group will retain its original name. However, each will be branded as an Employee Owned Alaska Rubber Group Company. Alaska Rubber Group COO Mike Mortensen explained; “We definitely want to keep the local culture at each location intact. There’s a strong commitment within each store to customer service, and over the years each store has developed a loyal customer base. As we integrate these stores into the group, we’ll look to find efficiencies, win new customers with expanded offerings and skill sets, and capitalize on economies of scale as a much larger group. In addition to these obvious goals, we are bringing the energy and empowerment of employee ownership. In our experience, as employees begin to understand they have a stake in the company, significant growth is a natural byproduct. It’s a powerful model and this is just the beginning.”

For additional information about the Alaska Rubber Group, please visit www.alaskarubber.com

 

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