Bering Straits Native Corp. is now in the hardware business. The Western Alaska Native regional corporation announced its purchase of Alaska Industrial Hardware Aug. 3.
BSNC President and CEO Gail Schubert said in a release the sale was evaluated for nearly a year.
“We determined that AIH is a solid company that fits well with the growing Bering Straits portfolio of companies and will continue to thrive,” Schubert said.
AIH leadership will remain in place to manage the business operations, according to Schubert.
AIH was founded in Anchorage in 1959. The construction and industrial equipment supplier now has three Anchorage locations along with retail stores in Eagle River, Kenai, Fairbanks, Wasilla and Juneau.
The acquisition is part of a strategic plan by BSNC to diversify its business holdings, the release states.
BSNC’s primary businesses are in IT services, government contracting and logistics through its subsidiaries.
“AIH has build a solid employee base throughout Alaska and much of that success is attributable to the loyalty and longevity of its more than 230 employees,” AIH President Terry Shurtleff said.