Richard and Marie (who joined the company full-time from the onset) hit the ground running. Their vision was clear; Prospect Fastener would not be just another revolving door for pallets of imported products. From day one, the company would stock domestically made fasteners from only the most respected manufacturers. The Pratts would hold a lot of inventory, so that customers could buy what they needed – in quantities that made sense. With three young kids in school, and their nest egg invested in Prospect Fastener, Richard and Marie bet the farm that customers would turn out.

They were right.

Word quickly spread that Prospect Fastener was selling smaller quantities of top-quality retaining rings and other items, all while ensuring availability for future orders. Using analog scales and elbow grease, the company turned bulk lots into value-added bundles. Manufacturers also saw immediate returns, as Pratt’s new business model attracted a tidal wave of interest. By 1988, Rich and Marie had added more employees, purchased a computer, and relocated to a facility with 10,000 sq. ft. of space.

By the early 1990s, Prospect Fastener was on its way to becoming one of the most respected fastener distributors in the United States. As their capacity grew, so did the need to navigate the complex demands of bigger accounts. While never losing sight of the needs of smaller customers, Rich and Marie knew that they needed help adding value on a larger scale. They wouldn’t have to look further than their own sons to start mapping out the company’s future.

Rich Pratt Jr. and Ryan Pratt had both recently graduated from Bradley and Ball State, respectively. Within the span of two years, each had joined the family business. Their skills proved complementary to each other’s, and vital for growth. Rich Jr. deployed his organizational acumen to help Prospect Fastener become an ISO-certified company. Ryan implemented a new packaging system which allowed for customization and significant improvements in efficiency. Marching through the next decade as a true family business, Prospect Fastener had become everything that Richard W. Pratt had envisioned, and more.

By the turn of the new millennium, the company found itself moving into its current location – a 32,000 sq. ft. facility in Wauconda, Illinois. The new space allowed for a much-needed expansion of staff, equipment, and physical capacity. Now Vice Presidents for the organization, Rich Jr. and Ryan had become essential to Prospect Fastener’s continued success. Under their guidance, new partnerships and product line expansions would lay the groundwork for profitability and market dominance throughout the next decade:

• In 1999 Prospect Fastener embarked on a venture with KMC Stampings, stocking and selling their clamp products; ones that have developed into their second largest product line to date.

• In 2005, Rotor Clip company proposed the RotorExpress Program, through which they would refer customers to a distributor - with the understanding that the customer would be supplied Rotor Clip products only. Prospect Fastener was the first distributor offered the program. It has been a great success.

• In 2007, Rich Jr. and Ryan began selling significant sizes and quantities of grooved, slotted, and coiled pins. They were soon approached by Driv-Lok, Inc. to become their Master Distributor. Today, Driv-Lok pins account for a third of Prospect Fastener’s inventory.

The Pratt family doubled down on their business during the financial crisis of 2008. Despite slowing orders and closures of competitors, Prospect Fastener’s low debt enabled them to weather the storm. In fact, Rich Jr. and Ryan invested heavily in AS400 technology, new Autobag packaging equipment, and vertical storage units that further allowed operations to stay nimble.

When the market rebounded, Prospect Fastener was ready. Their largest customers now demanded pre-labeled product assemblies – specifically pins, small clamps and retaining rings. Additional personnel were hired while the high-tech bagging systems helped them keep orders on track. Prospect Fastener also started offering assortment kits, custom labeling, and complex release schedules as value-added services. Staying true to Rich W. Pratt’s original vision, the company was finding new ways to provide options and flexibility to their customers.

In March of 2016 Prospect Fastener purchased a second warehouse, adjacent to their original location. To date, this has been the most significant re-investment in the company’s history. After an addition was applied to the new space, it was used exclusively to store KMC Clamps – a product line that requires more racking than other fasteners. With double the operating space, the road ahead was filled with green lights.

At the same time, Rich Jr. and Ryan revamped the company’s digital toolbox. Their newly acquired cloud-based enterprise system allowed Prospect Fastener to move product three times faster than their previous, DOS-based AS400 platform. At long last, the team was equipped with a proper e-commerce presence – one that eliminated redundancies and offered customers easy access to inventory on hand.

We have a positive outlook on the future, and not just for our company. Our industry is poised for the comeback of a lifetime. Thanks to our suppliers, and customers like you, Prospect Fastener continues to hold a position of strength and support. We’ve been challenged before, and emerged stronger. As the world rebounds, we’ll be here to keep making sure it can obtain the fasteners needed to get the job done. We’ve done it for the last 40 years, and we’re not going anywhere.

If you’re a partner, we thank you. If you’re a customer, we want you to know that you’re special to us. Without you, there would be no 40^th anniversary. If you’re considering trying us for the first time, we will delight you. We’re Prospect Fastener, and We Distribute Value.

Rotor Clip Company is a global leader in retaining rings, wave springs, and hose clamps.Their products have applications for the automotive, medical, oil & gas and wind power industries, as well as aerospace and defense manufacturing and assembly.

• Tapered Section Retaining Rings
• Constant Section Retaining Rings
• Spiral Retaining Rings
• Wave Springs
• Self-Compensating Hose Clamps

Complete product traceability

KMC Stampings products are the standard of quality in the clip and clamp industry. Their durable, long-lasting fasteners have been made in the USA since 1908.

• Extruded Cushion Clamps
• Vinyl Cushion Clamps
• Plain Clamps
• Expansion Plugs
• Tube and Wiring Clips
• Control Cable Clips

All KMC products are RoHS compliant

SPIROL is the leading expert in fastening, joining and assembly. We are a technical resource that provides high quality components that improve the quality of your assembly, extend the life of your products and reduce your total manufacturing costs.

• Coiled Spring Pins
• Slotted Spring Pins
• Threaded Inserts for Plastics

DRIV-LOK is the world’s authority on spring pins, grooved pins, dowel pins and barbed pins and makes fasteners for some of the most critical applications in the world, like car seats, military personnel carriers and brain surgery equipment.

• Grooved Pins & Studs
• Knurled Pins & Studs
• Barb-Lok and Ferrol Pins & Studs
• Slotted & Coiled Spring Pins
• Split & Seamless Hollow Dowels
• Custom & Precision Solid Dowel Pins

DRIV-LOK has achieved international quality standards ISO 9001, IATF 16949 and ISO 14001.

Kerr Lakeside Inc. is a well-respected manufacturer of high quality socket screw products, cold formed special products and screw machine products. Our 70 years of success comes from a family commitment to quality and customer service. Our products consistently meet your drawings and industry specifications.

• Standard Socket Screws
• Button Head Sockets
• Flat Head Sockets