Steel & Tube Holdings is purchasing a fastenings firm for $32 million.
The steel products firm will buy Manufacturing Suppliers, which it says is one of the largest fastenings businesses in the country and includes the Fortress brand.
It marks Steel & Tube's second acquisition in about a year, after it bought Tata Steel Australasia.
The firm will pay $26 million in cash, and $6 million in Steel & Tube shares.
Steel & Tube chief executive Dave Taylor said it was a fair price for the business.
"MSL's got a strong brand .... Fortress is recognised as a pre-eminent brand."
The deal is expected to be settled within the six weeks.
