BlackHawk gains eight locations with acquisition
BlackHawk Industrial, a distributor of metalworking and other mission-critical industrial products, has acquired Stock’d Supply (“Stock’d”) headquartered in Chattanooga, Tennessee, along with its seven other locations in Chicago, Illinois; Franklin, Indiana; Lincoln, Nebraska; Louisville, Kentucky; Mocksville, North Carolina; Rock Hill, South Carolina; and Yankton, South Dakota.
Founded in 1979, Stock’d is a supplier of fasteners, technical threads, and other industrial products distinguished as a value-added technical service provider.
The Stock’d Supply operation increases Blackhawk's proximity to customers with a common product offering and strong focus on technical service.
BlackHawk is accelerating its acquisition activity and bolstering its capabilities by aggressively growing in recent months. The company said this acquisition supports its mantra: “Big Enough to Serve and Small Enough to Care.”
“The BlackHawk acquisition strategy continues to be fueled by our number one priority of saving our customers money and being a catalyst for their success," said BlackHawk Industrial President and CEO John Mark. "The addition of the Stock’d team of experts will help power BlackHawk’s promising organic and inorganic revenue growth, broaden our customer base, and offer new and comprehensive services unlike anything we have done in the past.”
Keith Shope, CEO of Stock’d Supply, added, “BlackHawk and Stock’d are a perfect combination, and I can’t wait to leverage our strengths to provide increased product offerings and deliver world-class customer service.” “The 101 valued employees at Stock’d will become part of BlackHawk’s industry-leading operating system and have the opportunity to do remarkable things in the future because of this partnership.”
BlackHawk says it is intent on building more value for industrial manufacturers by expanding into relevant geographic markets to reach more production facilities; expanding its line card to provide more of the products and services end-users value; and investing in new sales channels which improve the effectiveness of its technical sales resources.
Financial terms of the Stock'd Supply transaction were not disclosed. CIBC US Middle Market Investment Banking acted as exclusive financial advisor to Stock’d Supply in this transaction.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
