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INDUSTRY NEWS |
DiversiTech® Acquires Stride Tool LLC.
Acquisition Strengthens Company’s Expansive Tool
Offering for HVAC/R Technicians
 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
specialty 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.
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“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 DiversiTech can be found at
www.diversitech.com. 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.
About DiversiTech
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™.
More
information is available at
www.diversitech.com.
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