Emerald Expositions Acquires National Industrial Fastener & Mill Supply Expo
November 12, 2015
Emerald Expositions acquired the National Industrial Fastener & Mill Supply Expo (“Fastener Expo”) from Jim Bannister and Mike McGuire, the show’s co-owners.
Fastener Expo started 35 years ago and brings together manufacturers and distributors of industrial fasteners, precision formed parts, fastener machinery & tooling and other related products and services with distributors and sales agents in the distribution chain.
The 2015 event took place recently at the Sands Expo & Convention Center in Las Vegas and featured an all-day conference program presented by endorsing fastener associations, a showfloor with more than 600 exhibiting companies from 20 countries and buyers from 38 nations around the world.
“Fastener Expo is an attractive entry point for us into the industrials sector and broadens our end market exposure and opportunities,” said David Loechner, CEO of Emerald Expositions. “Fastener Expo aligns perfectly with the criteria we look for in acquiring new events – strong underlying market fundamentals, a ‘must-attend’ event with a clear leadership position, experienced and high quality management, and an event that will benefit from the management and infrastructure of the Emerald organization.”
McGuire said. “Our recent show was the largest and strongest event ever, with over 100 new exhibiting companies. Emerald’s scale and expertise should help take this show to even greater heights for both exhibitors and attendees.”
To ensure a seamless transition, Bannister, who has operated the show since its inception, will provide consulting services to Emerald and will support Susan Hurley, who will continue to manage the event from her central Ohio office, now as show director for Emerald.
“I’m delighted that the National Industrial Fastener & Mill Supply Expo will continue to grow and thrive under the stewardship of Emerald Expositions,” Bannister said. “To see how far this show has evolved over the past three decades has been amazing, and based on recent attendance trends, the future of the event is very bright.”
Corporate Solutions of Westport, Conn., was the exclusive advisor to the sellers in arranging, structuring and negotiating this transaction. The financial terms of the transaction were not disclosed.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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