By Eric Fetters
Herald Writer
Everett Industrial Supply Inc. has agreed to sell its assets and inventory to Tacoma-based Stellar Industrial Supply, ending 58 years in business.
The acquisition by Stellar, detailed in an agreement signed earlier this month, should be completed by March 31. Other terms of the deal were not disclosed.
Dan Kure, president of Everett Industrial and one of its seven owners, said the decision to sell was "purely by choice."
"This is something we feel is in the best future interest of everyone," Kure said, adding that the combined company will be able to compete better against larger rivals in the marketplace.
Once it takes over Everett Industrial, Stellar will have 85 employees and five branches in the state in addition to its Tacoma headquarters. The company, started in 1988, distributes supplies, tools and chemicals to industrial and construction companies.
Everett Industrial has facilities at 2201 Pacific Ave. and near Paine Field. Both will remain open after the sale, Kure said.
The company provides maintenance, repair and operation supplies to companies and customers in the aerospace, marine, forest products and manufacturing industries, as well as to local and federal governments.
Among Everett Industrial’s notable customers are Boeing, Goodrich Aviation Technical Services, US Marine and Kimberly-Clark Corp.
J.W. "Bill" Phillips launched Everett Industrial as Everett Hardware Co. in 1944 at 2708 Broadway Ave. The business moved to its current location in 1973, adding on in 1989. In addition to Kure, the company’s present owners are Lucille Hofer, Mike Gallagher, Mike Pokswinski, Mitchell Davis, Owen Hanby and Keith Faller.
While Hofer plans to retire after 37 years with the company, the other owners will stay involved. Kure said Stellar also intends to keep on Everett Industrial’s other employees. Altogether, the company employs 33 people, including several of the owners.
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