Broken Arrow, OK — BlackHawk Industrial, a market-leading distributor of metalworking and industrial supplies, today announced the acquisition of four businesses: Precision Supply, Precision Supply De Mexico, X-Press Tool, and MfgSurplus.com.
Precision Supply, based in Cleveland, Ohio, is a premier industrial distributor of cutting tools, abrasives, fluids, and engineered products along with a wide variety of MRO supplies. Precision Supply has been serving end user customers in the metalworking industry since 1974.
Precision Supply De Mexico, based in Irapuato, Mexico, services end-users in manufacturing plants within the country of Mexico.
X-Press Tool, based in Cleveland, Ohio has built and reconditioned high-performance special tools for world-class manufacturers since 1986.
MfgSurplus.com® is an online marketplace designed for MRO manufacturers, distributors and end-users to sell surplus items in an Online MRO Marketplace.
Precision Supply, and its related companies, represents the eighth acquisition of strong local industrial distributors by BlackHawk Industrial. This follows recent acquisitions over the past 36 months of Seattle-based EF Bailey, Minnesota-based Kendeco, Wisconsin-based Tool Service, Illinois-based Sanders Tools and Supply, Oklahoma-based Duncan Industrial, Arkansas-based Rogers Industrial, and Nebraska-based Fuchs Machinery.
With the acquisition of Precision Supply and Precision Supply De Mexico, BlackHawk expands and strengthens its geographical footprint in the United States and Mexico. With the addition of a new sales location in Cleveland, BlackHawk is looking to further strengthen its presence in Michigan, Ohio and Indiana. Financial terms of the transaction were not disclosed.
Bill Scheller, CEO of BlackHawk Industrial, said: “We are excited to add the talented employees of Precision Supply to our ever-growing BlackHawk Industrial family. Led by Bob Koch, Precision Supply has a very long history as a supplier of choice with strong customer and vendor relationships in its local marketplace. As a result of additional operating scale, management resources and a broader product offering, we believe that Precision Supply will be further enhanced as part of Blackhawk Industrial. We are also excited to share the combined resources of BlackHawk Industrial with the customer and vendor base of Precision Supply.”
Mr. Scheller also added: “BlackHawk will continue to seek additional US-based industrial distributors to acquire as we further build out our business in North America. Precision Supply is another great acquisition that follows our business strategy in so many ways: local leadership, strong technical and value-added selling, focus on engineered products, deep supplier support, and a strong team culture. We believe that by adding Precision Supply and an outstanding local leader like Bob Koch to our branch network, we will expand and attract additional selling talent across the US that wants to be part of an exciting and growing company like BlackHawk.
“Precision Supply De Mexico, X-Press Tool and MfgSurplus.com® are also exciting additions to BlackHawk Industrial. We believe that these three businesses and their service offerings are truly value adding and will be expanded to the entire BlackHawk Industrial customer base across the United States.”
BlackHawk Industrial will look to Bob Koch to continue to lead BlackHawk Industrial – Precision Supply in the local market. Mr. Koch will be a Senior Vice President and a valued member of the BlackHawk Industrial senior commercial leadership team on a go-forward basis. Bob is well respected in the industry and has been an influential leader in the area of Engineered Supply Solutions. Mr. Scheller said: “We will look to Bob’s continued leadership at BlackHawk Industrial – Precision Supply and his ability to impact our sales effort across the US and Mexico. We also look for Bob to help us further develop our strategy in a key area: Engineered Supply Solutions.”
Bob Koch, former President and owner of Tool Service, said: “As I looked at an ideal transition of ownership of our family-owned business at Precision Supply, it was very important for me to find a true steward that would carry on what my family and our employees have built over the years. As I looked at the culture and leadership style that BlackHawk is building, we believe it matches the direction we have found successful at Precision Supply. In addition, I strongly believe in the vision and strategy of empowering the local commercial leaders, to be “Small Enough to Care” in their local marketplaces. While at the same time, I knew that Precision Supply needed to be part of BlackHawk to provide all that we need to be “Big Enough to Serve” in the ever-changing marketplace. I am excited to be joining BlackHawk Industrial in my leadership role. As an early adapter to vending and engineered supply solutions for customers, I believe that I can help serve our Team at BlackHawk as we make a difference in the marketplace.”