Industrial Supply Co. acquires Paxton Production Tools
Salt Lake City-based Industrial Supply Company announced its acquisition of Paxton Production Tools, a distributor of cutting tools in the region since 1956.
With a combined experience of over 160 years in industrial supply distribution, the acquisition is intended to offer an even higher level of customer experience for both companies’ customers in the Intermountain West.
“With this acquisition we are able to continue the proud tradition and heritage of both companies’ powerful brands. We will carry on the goodwill of Paxton and are excited to see the growth and opportunities that come from this as we seek to make continuous improvements and ensure our customers are satisfied,” said Phil Thompson, chairman of Industrial Supply.
With Paxton Production Tools’ specialty in metalworking, this acquisition gives Industrial Supply the opportunity to grow its metalworking business, expand its selection of specialists and offer new brands to its customers, according to a company statement.
“We were delighted to learn of Industrial Supply’s interest in acquiring the business that our family has nurtured and grown through the years. Although others have expressed interest, Industrial Supply was our first choice. We have been friends, as owners and employers, in this community for over 60 years, and Industrial Supply brings the perfect synergy that we were looking for in a potential buyer,” said Bob Paxton.
Paxton Production Tool will maintain its brand and continue to operate from its current Salt Lake City location. The integration will be completed in the next several months.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
