Fastenal Company

Fastenal is a leader in the wholesale distribution of industrial and construction supplies, serving a diverse customer base that includes manufacturing companies, construction firms, government agencies, and other industrial and commercial enterprises. The company's product categories include fasteners (nuts, bolts, screws), safety products (hard hats, gloves, eyewear), cutting tools, hydraulics, welding supplies, and other industrial consumables.

The company's distribution model has evolved significantly from its origins as a branch-based retailer. Fastenal now operates through three primary channels: traditional branch locations, on-site customer locations (where Fastenal employees work directly at the customer's facility), and technology-driven solutions including industrial vending machines and bin stock programs. The company operates over 120,000 industrial vending machines at customer locations, making it the largest operator of industrial vending in the world.

Fastenal employs approximately 23,000 people across its operations in the United States, Canada, Mexico, and other international markets. The company's workforce includes branch employees, on-site specialists, distribution center workers, and corporate staff.

Fastenal was founded in 1967 by Bob Kierlin in Winona, Minnesota, a small city in southeastern Minnesota along the Mississippi River. Kierlin's original concept was to create a vending machine that would dispense nuts and bolts, but the technology was not yet practical. Instead, he opened a retail store selling fasteners and industrial supplies.

The company grew steadily through the 1970s and 1980s, expanding its branch network across Minnesota and neighboring states. Fastenal went public in 1987, listing on the NASDAQ, which provided capital for accelerated expansion. The company's growth strategy centered on opening new branch locations in small and mid-sized communities, bringing industrial supplies closer to customers who previously had to travel to larger cities or wait for mail-order deliveries.

By the 2000s, Fastenal had expanded to over 2,000 locations across the United States, Canada, and Mexico. The company introduced its industrial vending machine program, which became a transformative innovation in the industrial distribution industry. These automated machines, placed at customer locations, dispense tools, safety equipment, and other supplies, providing 24/7 access while tracking usage and reducing waste.

In recent years, Fastenal has continued to evolve its business model, shifting from traditional branch-based distribution toward on-site customer locations and technology-driven solutions. The company reported net sales of approximately $7.5 billion in fiscal year 2024 and reported further growth in 2025, with revenue reaching approximately $7.9 billion for the full year.