White Cap Acquires Diamond Tool, Names New CFO

Already the fourth deal for White Cap since its late 2020 spin-off from HD Supply, it gains the company two branch locations and a distribution center.

White Cap Asdfa

ATLANTA,β€” White Cap Supply Holdings, LLC has closed on an agreement to acquire Diamond Tool & Fastener, Inc. based in Philadelphia, Pa., with another location in Edgewater Park, NJ and a distribution center in Bristol, PA, Diamond Tool will join White Cap in the Northeast Region in serving its local customers with exceptional customer service.

Logo"Diamond Tool is in the heart of Philadelphia and the team does an incredible job serving customers in this centralized, high-volume area," said John Stegeman, Chief Executive Officer of White Cap. "With the additional location in Edgewater Park and a distribution center in Bristol, we look forward to the expanded service locations and product offerings we can now offer our mutual customers in the Philadelphia area as a combined business."

Founded in 1974, Diamond Tool services the Philadelphia Tri-State area supplying professional contractors with the tools and knowledge needed to get the job done. Offering sales, rentals, service, and safety, equipment training and more, Diamond Tool has the products and services for every type of job. Diamond Tool is based in Philadelphia, PA with another location in Edgewater Park, NJ and a distribution center in Bristol, PA. For more information visit www.diamondtool.net  

New CFO

Tim MurphyTim MurphyIn December 2021, White Cap welcomed a new CFO to the senior leadership team, Tim Murphy

"Tim joins us from the publicly traded WestRock Company with more than 25 years of experience in the corporate finance sector. In his role, he will be focusing on setting financial strategies and targets, as well as reporting financial results to our external stakeholders.  We look forward to Tim’s future contributions as part of the White Cap senior leadership team!"

White Cap Supply Holdings, LLC serves as a one-stop shop providing concrete accessories and chemicals, tools and equipment, building materials and fasteners, erosion and waterproofing and safety products to professional contractors by meeting their distinct and customized supply needs in non-residential, residential and infrastructure end markets. White Cap is comprised of multiple brands in the U.S., including Ram Tool, and the Brafasco, Brock White and NCA brands in Canada. White Cap operates approximately 450 branches across the U.S. and Canada with approximately 9,000 employees and offers nearly 450,000 SKUs to approximately 150,000 customers.

More in Mergers & Acquisitions