Herndon Products, Inc. acquired Intercoastal, Inc. in late November, creating a new company: Intercoastal, LLC, a wholly owned subsidiary of Herndon Products.
Herndon Products has achieved a compounded growth rate in excess of 50% since its launch in 2003, with an emphasis in defense and aerospace industry supply chain management solutions. The acquisition of Intercoastal brings an emphasis in the commercial side of aviation supply chain – bolstering a key future growth area for Herndon Products.
“Herndon Products was seeking a strong company to add to our bench, and Intercoastal aligned perfectly with our expansion strategy,” Scott Herndon, President and Chief Executive Officer stated. “In this marketplace, relationships matter, and Intercoastal brings twelve new authorized distributorship lines to the Herndon Products portfolio of strong suppliers, including 3V Fasteners, Alcoa, Allfast, Lisi–Monadnock, Federal Manufacturing and Shurlok, to name a few. Our geographic reach also improves with this acquisition. We now service our customers from four distribution centers across the country that are geographically aligned with our customer’s needs.”
Integration of the companies has begun already. The intent is to leverage the increased scale and collective capabilities of both companies to better serve customers. Currently, teams are focused on upgrading the computerized inventory and forecasting systems of Intercoastal with Herndon’s proprietary system. No other major changes are anticipated at this time.
Founded in 1968 in Kent, Washington, Intercoastal employs a dedicated team that will stay with the company. Randie Cadwell, the former President of Intercoastal, will lead the team in Washington as Vice President and General Manager.
Dan Rodrigues, Chief Operating Officer for Herndon Products, led the acquisition efforts with the assistance of several St. Louis companies including Bryan Cave, legal; Rubin Brown, accounting; Huntleigh McGehee, insurance; and Regions Bank, financing. HCI Equity furthered its investment in Herndon Products, following an initial step taken three years ago.
About Herndon Products, Inc. (HPI)
Herndon Products supplies high quality products and services to the aerospace and defense industries. Since inception, HPI has been the premier provider of supply chain solutions to the US Government, domestic and international companies. Herndon Products is an ISO 9001:2008, AS9120 Rev A and AC 00-56A certified company based in O’Fallon, Missouri, with a mission to provide the best integrated supply chain management solutions for assembly components to our customers. For more information, please visit www.herndonproducts.com.