
RACINE, WI — Speedtech International, Inc., the manufacturer of SPEEDWRAP Hook & Loop Products, Specialty Fasteners, and Authorized Distributor of VELCRO Brand Products, announced Monday that it has acquired San Diego-based Toleeto Fasteners International. With their expertise custom fabricating webbing, neoprene and hook & loop, Toleeto Fasteners International will dramatically increase Speedtech’s capabilities, services, and geographical footprint.
While musicians and consumers may know Toleeto’s brand of Cord-Lox Products, the company is best known in the Industrial Marketplace as a custom manufacturer of textile products for the Medical, MRO and Audio/ Video Industries. Leveraging their expertise with die-cutting, ultrasonic welding and industrial sewing, Toleeto Fasteners makes everything from pet leashes, to custom strapping for telecom equipment, to sports accessories. In addition, they also manufacture specialized medical products that hold tracheostomy tubes on premature infants, head straps for brain monitoring devices, and gurney straps.
Speedtech International’s President Chris Karnowski explains: “Speedtech’s manufacturing strength is fabricating hook & loop materials, especially VELCRO Brand ONE-WRAP Fasteners. For most of the SPEEDWRAP Brand Products and what we custom fabricate for our customers, we rely on cutting, slitting and welding. With the acquisition of Toleeto, we now have instant expertise of high quality industrial sewing and other types of die-cutting and printing on VELCRO Brand Material. We’ve essentially doubled our manufacturing capability with highly skilled experts now all under one umbrella.”
The combined companies also intend to expand upon Toleeto’s manufacturing expertise of non-hook and loop materials. This expertise includes custom fastening solutions using webbing, neoprene and foam laminates.
IMPACT ON SPEEDTECH’S DISTRIBUTION:
Speedtech also sees this merger as a big win because authorized SPEEDWRAP Distributors and Resellers can now offer their customers Toleeto products, services and capabilities. Steve Pope, Speedtech’s Vice President adds, “Distributors like Fastenal want to serve as much of their customers’ fastener needs as possible. With our acquisition of Toleeto Fasteners, we can better arm Fastenal Sales Representatives and the sales teams at our other Resellers.”
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MARKET EXPANSION:
With the Toleeto acquisition, Speedtech has expanded upon the industries they serve. Currently, Speedtech’s largest market channels are Industrial OEMs, Network Cabling and Maintenance, Repair and Operations. While Toleeto primarily serves the Pro Audio/ Video and Medical Markets.
GEOGRAPHIC EXPANSION:
The partnership between the companies will better serve North America. While both companies currently have customers Worldwide, Speedtech may use Toleeto’s San Diego Factory to provide added value and responsiveness to the West Coast. Karnowski explains, “Through our Distribution Network, we service customers like Google, Facebook and large datacom centers in the West and Southwest. We will leverage our new presence in California to better serve and support these customers.”
VELCRO BRAND FASTENER- DISTRIBUTION:
Geographic benefits of Toleeto’’s California location also creates opportunities for Speedtech’s Authorized Distribution of VELCRO Brand Products. Pope explains:
“We hope to expand upon our relationship with VELCRO Companies, by serving customers located on the West Coast and the Southwest US with VELCRO Brand Products & our Customization Services including printing on VELCRO Brand Materials.”
BRIEF HISTORY: SPEEDTECH INTERNATIONAL, INC.
Speedtech is the manufacturer of SPEEDWRAP Brand Fasteners and an Authorized Distributor of VELCRO Companies. The company focuses on Fasteners made from Hook & Loop Materials and other specialty fasteners. These products help to bundle, band, route, organize or identify cables, hoses or cords. While Speedtech’s products are best known for Cord & Cable Management, the company offers solutions for material handling, maintenance applications and more.
BRIEF HISTORY: TOLEETO FASTENERS, INC.
Dave Deavenport, President of Toleeto Fasteners concludes: “We are not only excited to gain direct access to markets and customers Speedtech serves, but to also offer Toleeto’s existing customers, SPEEDWRAP Brand Fasteners and Speedtech Manufacturing Expertise. This is definitely a win-win for everyone!”