The purchase will better serve the needs of Würth Industry's customers in the metalworking and machining markets.
Würth Industry North America (WINA) announced Tuesday that it has acquired the Louisiana Assets of Techni-Tool Inc. (formerly MDM Tool and Supply), a brand with 41 years of history supporting the machining, metalworking and industrial industries by supplying cutting products, service and technical support. The purchase will better serve the needs of Würth Industry's customers in the metalworking and machining markets, specifically in oil, gas, transportation and logistics industries and will deepen their geographic footprint in the gulf region.
Terms of the deal were not disclosed.
This acquisition fits into Würth Industry's strategy to provide expert supply chain solutions of industrial fasteners, safety and MRO products and complements Wurth Industry's strength in the metalworking market from Würth Van Horn, a distributor of fabrication products for OEMs. The Louisiana Assets of Techni-Tool, together with Würth Van Horn, will provide expanded services to customers across the US, Mexico, Canada and Brazil.
"Würth Industry has strong growth targets, both organically and through key acquisitions. This investment represents an important strategic opportunity to expand our metalworking and fabrication services and offer better supply chain solutions and cost savings for manufacturers across North America," said Dan Hill, CEO for Würth Industry North America, "Acting on an opportunity to grow during a pandemic shows the financial strength of the Würth Group and our commitment to growing and serving our customers."
"TTI adds to our capacity and geographic presence to better service our customers, added Eric Wilk, WINA's East Region vice president. "We look forward to this partnership and servicing the TTI customers in Louisiana in a greater capacity in the future. We are here to support and grow their business."
"We are excited to partner with Würth because it not only maintains Techni-Tool's history of outstanding quality and successful partnerships but also enhances available offerings to our customers. Customers will continue to receive the same high-quality products and support that they are used to. With the support of a global company, they will have greater resources and inventory expansion. The acquisition is the best choice for both our customers and employees, as joining the Würth family will equate to business growth", said Zach Tuner, CEO of Techni-Tool.
Source: Industrial Distribution