Naperville, IL – Hand tool manufacturer C.H. Hanson has purchased Chicago’s Palmgren Steel Products, completing an acquisition that C.H. Hanson leaders say will pay big dividends for customers.
C.H. Hanson Acquires Palmgren Steel Products
“Palmgren has always been a trusted brand name in the industrial marketplace, but the business had struggled recently with deliveries, stock-outs and an undefined strategy to help its customers grow,” said C.H. Hanson President Phil Hanson.
Nov 15th, 2013
“Palmgren has always been a trusted brand name in the industrial marketplace, but the business had struggled recently with deliveries, stock-outs and an undefined strategy to help its customers grow,” said C.H. Hanson President Phil Hanson. “Customers now will enjoy better service, better selection and better deliveries as we apply the Hanson standards that have guided us for generations to the Palmgren product line.”
Those products include industry leading drill press vises, general purpose vises, drill presses, bench grinders and more. The acquisition which features a 147 year old company buying one that’s 94 years old was completed Oct. 23. C.H. Hanson moved Palmgren’s manufacturing and warehousing to its Naperville facility the next week and began shipping Palmgren products Nov. 4.
“Industrial distributors want to do business with fewer suppliers,” Hanson said. “This helps us meet that need while expanding our product offerings. We’re proud to have the opportunity to burnish the Palmgren brand, grow its base, infuse innovation into its product line, and bring outstanding performance back to its core value proposition, all in the name of serving customers better than ever before.”
Also effective Nov. 4, Ernie Torkilsen has been named C.H. Hanson’s director of sales for Palmgren products. He comes from the Colovos Co., where he ran Palmgren sales for six years. Walter Szotek, who began his career at Palmgren Steel Products, has been named V.P. of Manufacturing Palmgren. Torkilsen and Szotek have more than 65 years o f combined experience in the design and manufacturing of workholding tools and equipment. “I’ve seen the strength of the Palmgren brand firsthand in today’s marketplace,” Torkilsen said. “Palmgren is a proud family name that represents Chicago style hard work, and I’m thrilled to be overseeing sales of these exceptional products for C.H. Hanson.”
“Growth through acquisitions like Palmgren’s has been our plan since we completed our executive team with the hiring of Mike Fralic as vice president of sales in September,” Phil Hanson said. “Mike’s skills in planning and building sales structures and teams are a key part in our future growth initiatives”.