Broken Arrow, OK — BlackHawk Industrial announced the acquisition of two Chicago businesses: Chicago Hi-Speed Tool & Supply and Quaker Tool Grinding.
Chicago Hi-Speed, based in Chicago, Illinois, is a premier industrial distributor of cutting tools, abrasives, fluids, and engineered products along with a wide variety of MRO supplies. Chicago Hi-Speed has been serving end-user customers in the metalworking industry since 1951.
Quaker Tool, based in Chicago, Illinois, has built and reconditioned high-performance special tools for world-class manufacturers since 1946.
Chicago Hi-Speed and Quaker Tool represent the ninth acquisition of strong local industrial distributors by BlackHawk Industrial since the fall of 2010. This follows BlackHawk’s recent acquisition of Precision Supply three weeks ago. BlackHawk has now made nine acquisitions of 18 companies in just 37 months.
With the acquisition of Chicago Hi-Speed, BlackHawk broadens its geographical footprint and sales penetration in the Chicago and Illinois marketplaces. The additional field-sales talent at this location further strengthens our presence in Illinois, Indiana, and Iowa. Financial terms of the transaction were not disclosed.
Bill Scheller, CEO of BlackHawk Industrial, said: “We continue to attract and acquire the best local distributors in a given market to become part of our business we are building in North America. We believe that strong local sales talent, like the team found inside Chicago Hi-Speed, wants to be aligned with a strong distributor with a culture that truly values their contribution to the business.”
Mr. Scheller also added: “BlackHawk Industrial will look to Morry Levin to continue leading BlackHawk Industrial – Chicago Hi-Speed in the local market. Mr. Levin will be the General Manager of one of our two Chicago locations. Frank Bertucci will continue to be General Manager of our other Chicago location. Dale Jensen will continue to be General Manager of our Rockford, Illinois location. Morry, Frank, and Dale will work as a strong team as we grow the business in the marketplace. All three will report to Lisa Mauer, Senior VP of Regional Development.”
Mr. Scheller also said: “Quaker Tool Grinding is also an exciting addition to BlackHawk Industrial’s Manufacturing Services Group. Quaker becomes part of our ever-growing focus in providing value-added manufacturing services to our end-user customers. Quaker Tool Grinding joins BlackHawk Pumps and Services, BlackHawk Fluid Services, Tool Fabrication, STS Grinding, and X-Press Tool along with four BlackHawk Weld Centers as growing and important service offerings. We will continue to target and acquire businesses that provide unique services to our customers and can be expanded to the entire BlackHawk Industrial customer base across the United States.”