Montreal-Based Distributor Ficodis Acquires Cutting Tool Supplier Elite Tools

MRO distributor Ficodis Group has acquired Lévis, Quebec-based Elite Tools, one of the oldest cutting tool suppliers in North America.

MONTREAL â€” Ficodis Group has announced the acquisition of Elite Tools, a division of Les Scies Mercier Inc., founded in LĂ©vis, Quebec in 1891 and one of the oldest manufacturer of cutting tools in North America. The move will help drive the continued the growth of Ficodis, a Quebec-based specialized industrial supply distributor, and the development of online sales strategy.

Founded in 2010 and based in Montreal, Ficodis is a multi-specialized industrial supply distribution group providing services, technical expertise and products to manufacturing companies and SMEs. Its 12 points of sale in Quebec and Ontario are focused on four product families — tools, safety, cutting and power.

"Elite Tools has a rich, bold and compelling history," commented Christophe BĂ©villard, President of Ficodis. "While it boasts a proud tradition with deep roots in QuĂ©bec City's South Shore, it is also a forward-looking business that has developed a highly successful online sales operation. Its sustained efforts to streamline online purchasing have attracted customers from across North America, a remarkable feat for an independent organization. We are very pleased to be able to count on Elite Tools' extensive expertise as a distributor of many highly regarded specialized product lines for carpenters and cabinetmakers."

Elite Tools is a customer-centric provider of professional-quality tools for woodworkers. The division is one of the first in the country to use e-commerce, an expertise that pleases Ficodis since the company seeks to improve its strategy of selling online. This acquisition, the 11th made by Ficodis to date, fits into the company's expansion strategy focused on forming partnerships with major players in industrial supply distribution throughout Quebec and Ontario.

"We could not have hoped to join a better company," said Patrick Garant, President of Elite Tools"Ficodis is an organization that places employees at the centre of its development and we are confident that the transition will be smooth and will carry us to new heights. This partnership will help ensure succession in our division and secure our future as part of Ficodis' expansive network."

Patrick Garant remains President of Elite Tools.

More in Mergers & Acquisitions