Pearlman Industries, Inc., a Harbour Group company and the parent of Pearl Abrasive Co. and Keystone Tools, completed the acquisition of Stone Tool Supply, Inc., Jeff Fox, Harbour Group’s Chief Executive Officer, announced. Terms of the transaction were not disclosed.
Stone Tool Supply, based in Atlanta, is a value-added distributor of a wide range of tools, equipment and accessories to the stone fabrication market. The company serves customers throughout the Southeast from its retail location in Atlanta as well as with a fleet of mobile sales vehicles, similar to the model of the Keystone Tools division of Pearlman. Robbie White, President of Stone Tool Supply, founded the company in 2001 and will continue to lead it.
“Robbie and his team have such deep experience and close relationships with their customers, we couldn’t be happier to have them on board,” Mr. Fox said. “We work very hard to add value to our companies, and what we’ve helped the Pearlman team accomplish in a short time, including enhancing their presence in the important and growing Southeast, is an excellent example. Harbour Group has shown its dedication to this industry by acquiring three companies in the last nine months, and we will continue to aggressively grow our business through both internal investment and acquisitions of leading complementary businesses”
Mr. White added, “We always put our customers first, and we are convinced that Pearlman is committed to the same objective. It was this dedication to customer service, as well as the financial and operational support provided by Harbour Group, that made Pearlman my partner of choice. Stone Tool Supply has grown very rapidly and is doing great – we certainly didn’t need to do anything, but it was clear that Zack Pearlman and Harbour Group are building a winning team. I look forward to working with them to enhance our service levels and broaden our product offering. For our customers, the team will remain the same, but we’ll now have the support and resources of a larger organization, which will be invaluable in our efforts to continually increase the competitiveness of our business.”
Zack Pearlman, President of Pearlman commented, “We’re assembling an organization made up of the best of the best in the industry. Our goal is to provide our customers unmatched customer service and product quality. Adding Stone Tool’s outstanding team in the east is a wonderful opportunity. In a relatively short amount of time, Robbie and his team have built a tremendous business with great growth prospects, and I look forward to working with them to continue building the premier nationwide stone tool distribution company.”
Pearlman Industries, Inc. is a leading supplier of diamond cutting products and abrasives to professionals in diverse end-markets, including stone, tile, construction, welding and equipment rental. The company has two divisions: Pearl Abrasives, which develops unique branded abrasives and diamond products sold through distributors to a wide range of industries; and Keystone Tools, a distributor of stone cutting and fabrication tools, blades and consumables to end-users, with a focus on the natural stone market.
Harbour Group, a privately owned company based in St. Louis, and its operating companies are engaged in the manufacture and distribution of a wide variety of consumer and industrial products. In addition to abrasives, diamond cutting products and related tools, current businesses include automotive enthusiast products, lubricating systems and equipment, specialty LED lighting products, linear actuators and switches, entertainment products, auxiliary plastic processing equipment, and heat exchange equipment. Since its founding in 1976, Harbour Group has completed 150 acquisitions in 32 industries.
