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Tuesday, July 22, 2014

Windsor Employee-Owned Company Sold to National Corporation

The Windsor Star/Dave Battagello

A Windsor company owned by its employees since the mid-1990s has been sold to a major national corporation.

WFS Enterprises Inc. – which began operations as Windsor Factory Supply in 1955 – has been acquired by Acklands-Grainger, Canada’s largest distributer of industrial, safety and fastener products.

The agreement to sell was approved by “98 per cent” of the 119 employee shareholders of WFS, said company president Rick Thurston on Monday.

“It was a combination that the (financial) offer was that good and the mesh between the cultures was that good,” he said.

“It will be business as usual as a standalone, although the transition over time will create more opportunities for everybody.”

WFS has 275 employees at its 10 locations in Ontario and two in the U.S.

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