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Berkshire Hathaway company acquires Fort Worth firm

M&M Manufacturing, a producer of sheet metal products for the air distribution and ventilation market based in Fort Worth, has been acquired by MiTek Industries Inc., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc.,

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26-story mixed-use tower planned at Taylor & Fifth in downtown Fort Worth

Jetta Operating Co., a 24-year-old privately held oil and gas company in Fort Worth, and a related entity plan a 26-story mixed-use tower downtown at Taylor and Fifth streets on a site once owned by the Star-Telegram.

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UPDATE: Six candidates file for two Water Board seats

Six candidates have filed for the two open seats on the Tarrant Regional Water Board, setting up a battle that could potentially shift the balance of power on the board and the priorities of one of the largest water districts in Texas.

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Top area CFOs honored

The Fort Worth Business Press honored 13 area chief financial officers today with a luncheon at the Fort Worth Club.

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Fort Worth breaks ground on $8.6 million South Main renovation

Fort Worth Near Southsiders and city officials broke ground Monday on the 18-month rebuild of South Main Street between Vickery Boulevard and West Magnolia Avenue.

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Fort Worth Bolt & Tool ratchets up business

 

Robert Francis

rfrancis@bizpress.net

Fort Worth Bolt & Tool Co. has settled into its new location on the city’s south side. But when the company vacated its longtime location on Bledsoe Street in a former warehouse district near West Seventh, there is one thing it didn’t leave behind – its sign.
The iconic green art deco sign is now sitting proudly atop the new location at 500 S. Jennings Ave.


“We were in the middle of all that Seventh Street hubbub, we were in five different buildings, our warehouse system was compromised and we needed to move,” said Stuart Hendry, CEO of the company.
In the new location, the company, which supplies construction and industrial customers with fasteners and tools, has a 47,000-square-foot warehouse with a 24-foot-high ceiling, a retail-like showroom and easy access to Interstates 30 and 35.


“There are a lot of industries around here that are similar to us, so we’re an easy stop for a lot of people,” said Hendry.
David Russell, vice president and son of the late James H. Russell, who purchased the business in 1976, said the move made sense. “There are just lots of economies of scale with this location and a lot of logistical advantages,” he said.
The increased showroom space has attracted some walk-in traffic that was rare-to-nonexistent at the Bledsoe location, Russell said.
“You had to know where you were going there. We’ve been a lot busier here,” he said.
Hendry agreed.
“I buy something nearly every week,” he said.


The company is also adding additional products. It handles over 9,000 different SKUs in the new warehouse. Fort Worth Bolt & Too has two other branches, in Denton and Dallas, and has sales of around $20 million annually. The Fort Worth location employs about 41 workers.
Hendry believes the company found the right spot.
“There’s plenty of redevelopment going on here, too, with the Moncrief Cancer Center, the medical building and what’s happening on Magnolia,” he said. “I think 10 years from now you’ll see this area is a great location geared toward services, businesses and industrial along with some retail and housing.”
Robert W. Kelly was the architect on the new site and Muckleroy & Falls was the lead contractor.
“We like to support our Fort Worth businesses,” said Russell.
The company’s previous site was purchased by a partnership of TLC Urban and Fort Worth’s Kostohryz family. They plan to renovate the area into office space.
The company was founded in 1949 in the booming post-World War II era, at 2822 Bledsoe St., then an industrial and warehouse area in Fort Worth. The iconic sign came the same year. The company remains in the Russell family. Lee Russell, James’ wife, is now president and chairman, while Hendry, an in-law, is CEO. A portrait of James Russell remains in the entryway.
“I think he’d be real proud of the new place,” said Hendry.
 

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