L.A. Firm Buys Fab Steel Supply

Bell Industries Inc. said Friday that it has acquired Fab Steel Supply Inc., an Anaheim-based building products distributor, for about $7 million in cash.

Los Angeles-based Bell, an electronics distribution company, will add Fab Steel to its Building Products Group, which represents 20% of Bell’s total sales. The building group posted record sales of $59.5 million for the fiscal year ended June 30, compared to $58.5 million for fiscal 1985. Its operating income for the same period totaled $3.5 million, compared to $5.6 million for fiscal 1985.

Fab Steel has annual sales of about $25 million. The company, which is not expected to change its name, will continue to be headed by J. Michael Brase, president and its largest shareholder. In addition to Anaheim, the company has distribution facilities in Pacoima and San Diego.