Alaska Rubber Group Acquires Lower 48 Shop
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Disruption in the industrial distribution sector offers further opportunity for Alaska Rubber Group (ARG) to expand.
Stretching South
The Anchorage-based company’s latest acquisition is Industrial Supply Inc. (ISI) of Bellingham, Washington.
“Industrial Supply Inc. is an excellent fit for ARG,” says Mike Mortensen, president and CEO. “The location is perfect and will allow us to better serve the rapidly expanding industrial market between our Everett, Washington location and the Canadian border.”
The addition expands ARG to twelve locations across Alaska, Washington, and Oregon. The company acquired Pacific Hose & Fittings in Portland last November.
ISI, started in 1954 as Allied Supply, has been owned and operated by Rod Jackson and Dave Clark since 2007. The company fabricates and sells hydraulic hose fittings, lifting and rigging products, industrial chemicals, and abrasives.
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“We are picking up several new product lines with this acquisition, and we’re also getting another location with rigging and lifting product fabrication capabilities,” Mortensen says. “This allows us to grow that part of our business outside of Alaska, into the Pacific Northwest. More importantly, the team at ISI and the culture Rod and Dave have fostered are an excellent addition to our employee ownership model.”
Jackson and Clark remain engaged with the Bellingham shop, and its workers can participate in ARG’s employee ownership structure.
Mortensen told the newsletter Industrial Distribution in March that ARG has plans for more acquisitions, especially as smaller operators retire amid a chaotic business environment.