DiversiTech acquires Stride Tool LLC
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 it has acquired Stride Tool LLC.
Based in Glenwillow, Ohio, Stride Tool is a global OEM manufacturer of quality American-made specialty hand tools. 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 (wire twister tools and kits), Lakeland Products (tube fabricating equipment) and Bright Solutions International (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 US 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.”