Acquisition Strengthens Company’s Expansive Tool Offering for HVAC/R Technicians
ATLANTA – Jan. 14, 2019 – AHR EXPO (Booth B817) – DiversiTech Corp., a leading aftermarket manufacturer and supplier of highly-engineered components for residential and light commercial heating, ventilating, air conditioning and refrigeration (HVAC/R), announced today that it has acquired Stride Tool LLC.
Based in Glenwillow, Ohio, Stride Tool is a trusted global OEM manufacturer of quality American-made speciality hand tools known for proven durability. The company’s flagship brand, Imperial®, was established in 1905 and enjoys a market-leading presence among HVAC/R technicians. The company’s other notable brands include Milbar®, a leading brand of wire twister tools and kits, Lakeland Products, a leading brand for tube fabricating equipment, and Bright Solutions International, a leading supplier of leak detection products and specialty hand tools. Stride Tool maintains a manufacturing facility in Solon, Ohio, and manufactures a variety of other products for tube working, automotive, electrical and industrial applications. The company also holds a strong patent history, with more than 60 total patents.
The acquisition enables DiversiTech to expand its HVAC/R tool product offering and increases the company’s U.S. manufacturing capabilities from five locations to six. The company already offers a broad portfolio of complementary tool products through its hilmor® line, which was acquired in 2018. New products gained through the acquisition including tube working tools, HVAC/R manifolds and hoses, wire strippers and other related products.
“Our acquisition of Stride Tool is a perfect strategic fit and furthers our mission to simplify the work of our wholesale customers and HVAC/R technicians,” said DiversiTech CEO Andy Bergdoll. “With Stride Tool, we are furthering our commitment to developing products made here in the U.S.A. and adding innovative brands that complement our existing product portfolio. We welcome Stride Tool to the DiversiTech family and look forward to continuing to better meet the needs of the HVAC/R marketplace with this venerable company in our fold.”
“We are excited to start this new chapter in Stride Tool’s storied history,” said Stride Tool CEO Ron Ortiz. “DiversiTech’s vast distribution network will enable us to gain greater domestic market penetration, while also leveraging our established international presence. We are also looking forward to leveraging DiversiTech’s extensive HVAC/R industry knowledge to bring even greater product innovation and solutions to our customers.”
DiversiTech Chief Sales and Marketing Officer Bud Sjogren commented, “As a ‘made in the U.S.A.’ company with a 100-plus year history, Stride Tool and Imperial have built reputations for quality and innovation, two traits synonymous with DiversiTech. We are excited to be able to offer a wider and more complete range of product options and solutions to meet the specific needs of our customers and HVAC/R technicians.”
DiversiTech’s acquisition of Stride Tool is one of 11 acquisitions by the company in the past 28 months. The company currently offers more than 17,000 product items in over 200 product categories.
Technicians and wholesalers with questions can contact their DiversiTech or Stride Tool regional sales manager.
More information about Stride Tool is available at www.stridetool.com.
About Stride Tool
Stride Tool is a worldwide designer and manufacturer of specialty hand tools for the professional and DIY market. Our flagship brand, Imperial® has been a pioneer in the manufacturing of brass valves and fittings, and developed into the worldwide leader of innovative products serving the HVAC/R service and tube working tool industries.
DiversiTech® Corporation is North America’s largest manufacturer of equipment pads and a leading manufacturer and supplier of components and related products for the heating, ventilating, air conditioning, and refrigeration (HVAC/R) industry. Headquartered in the Atlanta, Ga., metropolitan area, DiversiTech’s mission for its wholesaler partners is to simplify their work. The Company is focused on growth through internal product development, external partnerships and acquisition. Manufacturing a suite of products, which includes a wide range of mechanical, electrical, chemical and structural parts for HVACR systems, DiversiTech brings unparalleled scaling capabilities and supplier expertise. The Company holds numerous patents and operates an advanced R&D materials division dedicated to bringing more value to its customers. The Company maintains over 1 million square feet of manufacturing and distribution space in key U.S., Canadian and European locations. DiversiTech has enjoyed a continued history of successful growth and has acquired industry recognized brand names including Wagner® Manufacturing, Specialty Chemical, EcoPad®, The Black Pad®, Quick-Sling® and Super Seal™.