Franklin-based Quality Mill Supply Co. Inc., a longtime industrial supplier, has been acquired by Martin Supply, an industrial supply company based in Florence, Alabama, the companies announced Tuesday.
QMS, which was started in 1944 and operates five locations in Indiana, sells a variety of materials for industrial use, including tools, raw materials and lubricants.
Financial terms of the acquisition were not disclosed.
Martin Supply said all 80-plus QMS employees will be retained.
In addition to Franklin, QMS has operations in Bloomington, Ferdinand, Fort Wayne and Muncie.
“We are proud of QMS’s legacy and delighted that we will be joining forces with a team whose values and culture mirror our own”, said Evan Gilbert, president of QMS and the third generation to run the company.
Martin was started in 1934 and has 400 employees and 13 distribution centers in five states.
Martin Supply or its parent company Martin Inc. have made four Indiana acquisitions in the past three years: Parker Industrial Safety in Avilla in 2021, and SafetyWear in Fort Wayne and Marshal Safety Inc. in Evansville in 2019.
“We are excited to have Quality Mill Supply join the Martin team,” said David Ruggles, president of Martin Supply, in written remarks. “We share a common mission to help companies operate better. Our combined strengths will bring even more resources and expertise to the growing Indiana industrial market.”