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For Immediate Release
IDL Tools

10.17.2009
ANNOUNCEMENT: IDL Tools Acquires TechniEdge Manufacturing Corp.

For more information, contact:

Bill Driscoll: 908-517-5241

billdriscoll@idltools.com

 

IDL Tools Acquires TechniEdge Manufacturing Corporation

Combined company will expand distribution opportunities in key channels and offer  customers a broader product portfolio

 

LITTLE FERRY, NJ -- As a part of a continuing strategy to further expand and strengthen its portfolio of products and services, IDL Tools is pleased to announce the acquisition of TechniEdge Manufacturing Corporation (TechniEdge). Included in the transaction is TechniEdge’s specialty blade division Cardan Design, a top designer of specialty blades. TechniEdge, along with Cardan Design, is a leading manufacturer of a broad range of standard and specialty blades, and hand tools with a long history of producing world-class quality blades and a solid base of long term customers.

The TechniEdge acquisition brings with it substantial expertise in design and manufacturing and a robust line of products – ranging from industrial strength blades used for heavy-duty construction to very fine micro-edge blades used for delicate surgery. These talents and products are a strong complement to IDL’s portfolio of sales, marketing, and product development skills and its innovative product line. The combined, and strengthened, product offering enables IDL to deliver a more extensive range of high quality, value driven products to the market, and also expands their customer base in the hard to reach industrial & manufacturing / OEM channels of distribution.

Sean Quinn, President /CEO of IDL Tools, commented on the acquisition “We’re excited to have made this acquisition. TechniEdge provides us with world class products and manufacturing capabilities which pair very well with our existing skills and products. Combining these two companies enables us to expand our product offering in all channels, provides us with new opportunities to help customers grow their sales and profits, and enables us to further expand our distribution in both consumer/industrial & manufacturing/OEM channels. IDL is focused on becoming a brand of choice for our customers and across the hardware industry by offering innovative and well made products, high service levels, and excellent customer service. Adding the many positive aspects of TechniEdge to IDL is a significant step towards achieving this goal.”

 

Cardan Design’s extensive expertise in engineering and manufacturing specialty blades is highly regarded across industries and around the world. Their library of unique skills and blades has enabled Cardan to build a formidable customer base in industries like electronics, fiber, food, medical, packaging, plastics, and others. These customers provide IDL with revenue and a platform for growth in the manufacturing & OEM sectors which they did not previously possess.

 

IDL customers presently include many of the top hardware retailers and distributors in locations around the world. With a more robust product line and more compelling customer value proposition IDL Tools expects to use this acquisition to extend their client list substantially across all channels of distribution. IDL will also pursue a number of new customers & strategic partnerships with manufacturing and OEM companies who can provide incremental business opportunities and synergistic routes to market.

For existing TechniEdge customers the combined IDL & TechniEdge will continue to deliver the high quality products, packaging, customer service, and service levels they have received from TechniEdge. IDL Tools is focused on delivering consistently increased value to customers and to working with customers to build methodically upon current business and to developing stronger, more strategic relationships with all of its customers across all channels of distribution.

This acquisition supports the strategic development of the IDL product line and brand franchise. The addition of TechniEdge’s products and services not only ensures that the steady stream of innovative products IDL has delivered to the market will continue unabated, and that customers will continue to receive the highest level of product quality and customer service they have come to expect, but also it helps to fortify IDL’s market position and growth plans across all channels of distribution.

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ABOUT IDL TOOLS INTERNATIONAL LLC. IDL Tools International’s mission is to develop unique and innovative tools that provide users performance unmatched by existing products. Most importantly, IDL is committed to consistently providing our customers with the highest level of service and product quality. Look for upcoming new product innovations from IDL

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