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BlackHawk Industrial Distribution Inc., Tulsa, OK, No. 40 on MDM's list of the top 40 industrial distributors, has acquired Kendeco Tool Crib, an industrial distributor focused on MRO. Kendeco, based in St. Cloud, MN, is the sixth acquisition of BlackHawk Industrial.
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Over the past 17 months, BlackHawk has acquired Oklahoma-based Duncan Industrial, Arkansas-based Rogers Industrial, Nebraska-based Fuchs Machinery, Illinois-based Sanders Tools and Supply and Wisconsin-based Tool Service. With the acquisition of Kendeco, BlackHawk expands and strengthens its geographical footprint into the Central region of the U.S.
Kendeco is a distributor of cutting tools, abrasives, fluids and engineered product along with MRO supplies serving customers in the markets of Minnesota, North Dakota, South Dakota and Wisconsin.
Bill Scheller, CEO of BlackHawk Industrial said: “We believe that Kendeco will be further enhanced as part of Blackhawk Industrial as a result of additional operating scale, management resources and a broader product offering. We are also excited to share the combined resources of BlackHawk Industrial with the customer and vendor base of Kendeco.
“BlackHawk will continue to look for additional U.S.-based industrial distributors to acquire as we further build out our business. Kendeco continues to add to our business model in so many ways: local leadership, strong technical and value-added selling, focus on engineered products, deep supplier support and a strong team culture. We believe that as a result of our addition of the entire Kendeco Team and their leading edge Minnesota operation, we will further strengthen and complement our recent acquisitions in Wisconsin and Illinois.
“Kendeco also offers many services that will be expanded to support the entire BlackHawk Industrial customer base through their ability to reach new markets and their complete comprehensive vending and other inventory management systems”.
Bob Miller will continue to lead the Kendeco Division.
Bob Miller, former president and co-owner of Kendeco said: “We spent the past 16 months watching Bill Scheller build BlackHawk into a new dynamic distributor in the industrial marketplace. As I looked at the culture and leadership style that BlackHawk has built, we believe it matches the direction we have found successful at Kendeco. In addition, I strongly believe in the vision and strategy of empowering the local commercial leaders, who intimately know their local marketplaces, customers, and employees.”
BlackHawk was formed by Bill Scheller, former CEO of ORS Nasco, and Brazos Private Equity Partners, LLC, a Dallas-based private equity firm, to implement an active buy-and-build strategy.