Washington state MRO and tool distributor Stellar Industrial Supply announced Monday that it has signed a letter of intent to acquire Rocky Mountain Cutting Tools, a Colorado metalworking distributor.
RMCT’s Frederick, Colorado, location would become Stellar’s 18th regional hub, officials said. Stellar President and CEO John Wiborg said the deal marks “another important step forward as we continue to build our organization.”
“We stand to learn a lot from one another, all of which furthers our ability to drive value to our customers,” Wiborg said in the announcement. “I’m very pleased that Stellar is expanding our footprint in the important Denver/Colorado Front Range market area.”
RMTC President Bryan DeAngelo added that he is “extremely excited to see [Stellar] continue to build out and deliver on the core principles and commitment to our customers Rocky Mountain Cutting Tools has been known for throughout Colorado.”
The deal is expected to close June 30; additional details, including financial terms, were not disclosed.
