Ficodis Inc., a portfolio company of Fondaction CSN, has acquired Elite Tools, a division of Les Scies Mercier Inc. Financial terms were not disclosed.
Founded in Lévis, Quebec in 1891, Elite Tools is one of the oldest manufacturer of cutting tools in North America.
Patrick Garant will remain as President of Elite Tools.
“Elite Tools has a rich, bold and compelling history,” commented Christophe Bévillard, President of Ficodis. “While it boasts a proud tradition with deep roots in Québec City’s South Shore, it is also a forward-looking business that has developed a highly successful online sales operation. Its sustained efforts to streamline online purchasing have attracted customers from across North America, a remarkable feat for an independent organization. We are very pleased to be able to count on Elite Tools’ extensive expertise as a distributor of many highly regarded specialized product lines for carpenters and cabinetmakers.”
“We could not have hoped to join a better company,” said Garant, President of Elite Tools. “Ficodis is an organization that places employees at the centre of its development and we are confident that the transition will be smooth and will carry us to new heights. This partnership will help ensure succession in our division and secure our future as part of Ficodis’ expansive network.”
Elite Tools is a customer-centric provider of professional-quality tools for woodworkers. The division is one of the first in the country to use e-commerce, an expertise that pleases Ficodis since the company seeks to improve its strategy of selling online.
This acquisition, the 11th made by Ficodis to date, fits into the company’s expansion strategy focused on forming partnerships with major players in industrial supply distribution throughout Quebec and Ontario.
Founded in 2010, Montreal based Ficodis is a multi-specialized industrial supply distribution group providing services, technical expertise and products to manufacturing companies and SMEs. Its 12 points of sale in Quebec and Ontario focused on four product families—Tools, Safety, Cutting and Power—are recognized in their regions for the high quality and variety of products offered, their technical expertise and the personalized service and solutions they provide.
photo credit: Ficodis