Bering Straits Native Corporation announced today it has wholly acquired Alaska Industrial Hardware (AIH), a leading company in the sales of construction and industrial equipment statewide. AIH was founded in 1959 in a Quonset hut in Anchorage at the intersection of the Seward Highway and Fireweed Lane. It now operates three locations in Anchorage- including its flagship store on the Old Seward Highway-along with stores in Eagle River, Fairbanks, Juneau, Kenai and Wasilla. AIH supplies high quality equipment, tools, industrial materials, maintenance supplies and safety products to all aspects of Alaska industry from oil and gas development and production to government and commercial customers.
“Over the past year we evaluated the possibilities and benefits presented by this acquisition. We determined that AIH is a solid company that fits well with the growing Bering Straits portfolio of companies and will continue to thrive,” said BSNC President & CEO Gail R. Schubert. “We are pleased to announce that AIH President Terry Shurtleff and his executive team will stay with the company and continue to manage day-to-day affairs. We look forward to welcoming AIH’s employees into the Bering Straits family of companies.”
Through this purchase, Bering Straits is implementing the strategic plan established by its Board of Directors to diversify and expand its holdings including commercial and government operations, lands, and resource development. No major changes in staff are expected, as President & CEO Schubert noted, “AIH has built a solid employee base throughout Alaska and much of that success is attributable to the loyalty and longevity of its more than 230 employees.” At closing Mr. Shurtleff remarked, “The employee and executive team are excited about being part of such a “top flight” organization like Bering Straits. AIH is an Alaskan brand and it is incredibly gratifying to know it will continue to be Alaskan owned.”