Alaska Rubber Group expands in Wash.
The Alaska Rubber Group acquired five additional locations with the acquisition of Washington-based Pacific Rubber Group.
The acquisition, completed in early January, effectively doubled the size of the employee-owned organization.
The locations serve the Pacific Northwest region. Pacific Rubber Inc. 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.
“We’re always exploring opportunities for growth, and it is exciting to see where this new addition to our group will take us," said Janeece Higgins, Alaska Rubber Group president and CEO.
Two former owners of the Washington stores, Don and Drennon Adams, were original founders of Alaska Rubber 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,” Higgins said.
Each location will retain its original name, branded as an Employee Owned Alaska Rubber Group Company.
“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," said Alaska Rubber Group COO Mike Mortensen. "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.”
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