Illinois-based Ideal Industries Inc. recently agreed to acquire Western Forge from MW Universal Inc. for a reported $40 million. “The acquisition of Western Forge represents another significant step in the Ideal strategy to broaden our internal product design and American-made manufacturing capabilities," stated president and CEO Jim James.
Ideal manufactures professional-quality tools and supplies for construction, maintenance, data communications, and OEM markets. Western Forge, in Colorado Springs, manufactures hand tools like screwdrivers, wrenches, and pliers for retail suppliers.
The 345,000-ft 2 Colorado plant will become a wholly owned subsidiary of Ideal Industries. In addition to forging, its operations include heat treatment, handle extrusion, machining, and plating.
"An additional benefit is that we will now expand our presence among the general trades where Western Forge has a strong customer base and where we see significant opportunities for growth with other Ideal products,” James added.
Randy Thompson, an Ideal Industries employee for 22 years, was named general manager for Western Forge.
The seller, MW Universal continues to own General Aluminum Forgings Inc., which manufactures aircraft components.
Ideal Industries Buys Western Forge
Professional tool manufacturer buys hand-tool producer