Mike Jensen, fourth generation owner of the 131-year-old distributor, will retire this year after more than 25 years as c.e.o. His children, Chris Jensen and Micah Dunlap, will stay on and continue running the business.

The deal comes 11 months after Ace entered hardware wholesaling in the East with its purchase of Emery-Waterhouse, Portland, Me. Jensen distributes $150 million in hardware each year to 2,000 independent dealers in 11 western states.

Jensen joins Emery-Waterhouse as part of Ace’s wholesale division, Ace Wholesale Holdings, which has just named Hoyoung Pak as its president.

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