Stellar Industrial Supply, which distributes more than 90,000 MRO (maintenance, repair and operation) products and tools from more than 1,500 brands for Safety, Metalworking, Marine Supply, Aerospace and other general manufacturing and processing organizations, and also offers customized Indirect Material Management, announced the signing of a definitive asset purchase agreement to acquire Knoxville, Tennessee-based metalworking distributor The Tool Crib (TCI). Closing is scheduled for August 31, 2023. TCI, focused on metal working and technical support to both large and small manufacturing facilities in the Southeastern United States, 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. 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,” said Frank Slagle, president, The Tool Crib.
Additionally, the Stellar DCS program aims to foster “Ideal Customer-Supplier Partnerships.” Working on behalf of both parties, Stellar Industrial Supply deploys the most efficient, cost-effective products that optimize plant operations and help run them smartly and safely. Since its inception in 2010, the DCS program has generated over $169M in cost savings, all of which are customer verified. The program saved customers nearly $18 million in total in 2022.