Stellar Industrial Supply to purchase Tool Crib
Stellar Industrial Supply, an MRO and tools distributor, has signed a definitive asset purchase agreement to acquire Knoxville, Tennessee-based metalworking distributor The Tool Crib, Inc. (TCI).
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| John Wiborg |
Closing is scheduled for August 31. TCI, focused on metal working and technical support to both large and small manufacturing facilities in the Southeastern U.S, becomes the 18th regional hub for Stellar Industrial Supply as it builds out a coast-to-coast presence.
“Stellar Industrial Supply is ecstatic to expand our coast-to-coast presence as this acquisition gives us an immediate strong Southeast regional footing. The Slagles have done a marvelous job building TCI’s outstanding reputation for delivering high value, consultative partnering with their customers. That approach perfectly mirrors the laser-focused, customer-centric approach we strive for at Stellar,” said Stellar Industrial Supply President and CEO John Wiborg.
"We are excited to be joining the Stellar organization and believe this is an excellent opportunity for our customers, our employees, and our suppliers to grow and expand our capabilities as an organization and for each of us individually and professionally," said Tools Crib President Frank Slagle. "By combining forces with Stellar Industrial, we can leverage our collective strengths to better serve our customers and ensure a solid and secure future for our employees and our suppliers.”
INDUSTRIAL SUPPLY MAGAZINE
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