Milton Industries, a Chicago-based manufacturer of pneumatic and hydraulic accessories, has acquired Casey Tool and Lock Technology, the company announced.
Casey Tool and Lock Technology is the designer and manufacturer of the LTI Tools brand of professional technician specialty tools and equipment including Texas Twister, Shockit Socket, Kentucky Kicker and several other sub-brands. The Casey Tools brand of tools and equipment is a distributer to professional technicians exclusively through mobile tool dealers.
Lock Technology and Casey Tool, based in Naperville, Illinois, have been in business for more than 40 years serving US and international customers in automotive, bodyshop, heavy-duty truck, construction equipment, first responder, towing and other industries, the company said.
This is Milton’s sixth acquisition in the last 30 months.
“This expands Milton’s offerings into LTI’s product line and distribution channels,” says Greg Carlson, CEO of Milton Industries. “We look forward to leveraging our resources and combined market positions. Our people, knowledge, and distribution will propel us to next level growth.”
“We’re excited about partnering with an iconic firm like Milton,” say LTI/Casey Tool president Ellery Casey. “We have always prided ourselves on the quality of our specialty automotive tools, and Milton is one of the few companies which meets the same qualitative standards.”
“While we have largely focused on the automotive and truck markets, our products have a much broader range of applications,” says LTI/Casey Tool CFO Wayne Casey. “Partnering with Milton allows us to tap existing demand from a number of other industries such as defense and manufacturing.”
Carlson will continue as CEO of Milton Industries. Meanwhile, Wayne will be active with LTI/Casey Tool short term for the transition, taking an equity position in Milton and Ellery will remain in an ongoing part-time role, contributing to New Product Development and selective major account business development, the company said.