Tacoma, Washington-based Stellar Industrial Supply announced on Aug. 16 that the MRO distributor has signed a definitive asset purchase agreement to acquire Knoxville, Tennessee-based metalworking distributor The Tool Crib Inc. (TCI).
TCI, focused on metalworking 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 has facilities in Oregon, Washington, California, Utah, Nevada, Colorado, Montana, Arizona, Tennessee, Pennsylvania and Florida.
“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,” TCI President Frank Slagle said in a news release.
The acquisition is scheduled to close on Aug. 31.
This is the first acquisition Stellar Industrial has announced in 2023 after acquiring four in 2022. Most recently, in October 2022, the distributor acquired Southern California-based One Way Industrial Supply.