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., according to an announcement by Jeff Fox, Harbour Group’s Chief Executive Officer. Terms of the transaction were not disclosed.
Stone Tool Supply, based in Atlanta, GA, 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,” 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.”
“We always put our customers first, and we are convinced that Pearlman is committed to the same objective,” added White. “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 [President of Pearlman] and Harbour Group are building a winning team. For our customers, the team will remain the same, but we’ll now have the support and resources of a larger organization.”
“We’re assembling an organization made up of the best of the best in the industry,” said Zack Pearlman. “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.”
PEARLMAN INDUSTRIES, INC. ACQUIRES STONE TOOL SUPPLY, INC. . . .
August 1, 2007