DBW Holdings Announces Acquisition of Peak Toolworks: Expands its Leading Diamond Tool Cutting Product Line
CHICAGO and VERNON HILLS, Ill., Dec. 13, 2023 (GLOBE NEWSWIRE) — DBW Holdings, L.L.C., (“DBW Holdings”) parent company of Diamond Blade Warehouse, today announced the acquisition of Peak Toolworks (“Peak”), the premier manufacturer and servicer of diamond and carbide precision cutting tools. DBW Holdings’ acquisition of Peak Toolworks was completed in partnership with private investment firm Granite Creek Capital Partners, L.L.C., and Canterbury Ventures, L.L.C., the investment arm of James M. Farrell and W. James Farrell, with additional financing provided by Hidden River Strategic Capital and Muzinich BDC, Inc.
Peak joins Diamond Blade Warehouse, L.L.C. (“DBW”) under the DBW Holdings umbrella. Both companies will remain dual operating businesses. The acquisition expands DBW Holdings’ ability to provide industry-leading products to customers in attractive end-markets, including infrastructure, construction trades, building products, automotive, and manufacturing.
In conjunction with the acquisition, W. James Farrell will continue as the Chairman of DBW Holdings, and James M. Farrell will lead the consolidated day-to-day operations as CEO. W. James Farrell was the longtime Chairman and CEO of Illinois Tool Works, leading the business through numerous acquisitions and billions of dollars of shareholder value creation. The signature operating approach of ITW is the 80/20 process, and this is a core tenet of the Farrells’ leadership of DBW Holdings.
“The addition of Peak and its complementary assets establishes a combined entity comprising world-class employees, exceptional customers, and a diverse portfolio of products and end markets,” said James M. Farrell, CEO of DBW Holdings. “With a strong foundation already in place, we look forward to applying our 80/20 operating principles to drive efficiencies and growth for the combined company.”
“We are grateful for the partnership we have fostered with the Farrells since our joint acquisition of DBW in 2021,” said Ken Kruger, Director at Granite Creek. “We have been impressed by their methodical implementation of operational improvements and growth initiatives at DBW, and are confident in their ability to drive further value creation at Peak.”
About Peak Toolworks
Headquartered in Jasper, Indiana, Peak Toolworks is a complete tool solutions provider, offering sharpening services, consumable tool manufacturing, and resale products for the secondary woodworking, composite, and metals industries across the U.S. and Canada. Peak is a servicer and manufacturer of saw blades and other tools used on wood, metals, and composites across building materials and general industrial end-markets.
About Diamond Blade Warehouse, L.L.C.
Founded in 1987, Diamond Blade Warehouse is a leading direct seller of a full range of diamond cutting tool products for a variety of applications. It has the largest product line in the diamond tool industry and more than 30,000 active customers in the United States, South America, Europe, Asia and Australia. Its customers rely on DBW for diamond blades, core bits, and cup wheels for cutting concrete, asphalt, granite, tile, marble, porcelain, brick and more. The Company’s products are used to cut and finish a variety of materials and end markets including concrete and masonry, concrete pavers and hard brick, tuck-pointing, tile, granite, and marble.
About Granite Creek Capital Partners, L.L.C.
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. In 2023, Granite Creek was named to Inc.’s Founder-Friendly Investors list for the fourth year in a row, honoring the private equity and venture capital firms with the best track record of success backing entrepreneurs. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.
For more media information, contact:
Lisa Hendrickson, LCH Communications for Granite Creek