FASTENAL CO

Fastenal Company is a Minnesota-based industrial supply company that was founded in 1967. The company began as a partnership and was incorporated in 1968. Fastenal's business strategy is to provide industrial and construction supplies to customers through a global network of in-market locations, including branches and Onsite locations, and digital solutions. The company sells a range of products spanning over nine major product lines. Fastenal's business is divided into two primary versions of branches: traditional branches and international branches. Traditional branches are primarily located in the United States and Canada and service a wide variety of customers, ranging from local businesses to large national account customers. International branches are primarily located outside the United States and Canada and focus on servicing large, national account customers in manufacturing and heavily oriented toward planned fastener and non-fastener product spend. The company has also developed various technologies to enhance its service to customers, including Fastenal Managed Inventory (FMI) programs such as bin stock (FASTStock and FASTBin) and industrial vending (FASTVend). Fastenal's digital solutions include transactional platforms, digital visibility solutions, and analytics. Fastenal's website is fastenal.com, and its ticker symbol is FAST. The company operates in-market locations in North America and outside North America, including the United States, Canada, Mexico, Central & South America, Asia, and Europe. As of December 31, 2023, Fastenal had 3,419 in-market locations, including 1,441 traditional branches, 156 international branches, and 1,822 Onsite locations. The company's Digital Footprint, which includes sales through FMI and eCommerce, represented 56.1% of sales in 2023.