June 8, 2021 09:00 ET | Source: Granite Creek Capital Partners Granite Creek Capital Partners
Chicago, June 8, 2021 (Global News Agency) - Granite Creek Capital Partners, LLC, a Chicago-based private investment company, announced today that it has partnered with James M. Farrell and W. James’ investment arm Canterbury Ventures, LLC. Farrell has acquired Diamond Blade Warehouse, LLC ("DBW"). DBW is a leading distributor of construction cutting tool consumables, providing professional-grade replacement parts for cutting and grinding equipment used in a variety of applications, including concrete, masonry, asphalt, pavers, tiles, granite, marble, and commercial flooring.
After the completion of the acquisition, W. James Farrell was appointed Chairman of the Board of Directors of Diamond Blade Warehouse. Mr. Farrell is the retired chairman of Illinois Tool Works ("ITW"), a multinational manufacturer of highly engineered fasteners, components, assemblies and systems. While leading ITW to achieve record growth and profits, Mr. Farrell became the most public spokesperson for the Pareto Principle (commonly known as the 80/20 rule). Mr. Farrell's son James M. ("Jim") Farrell has been appointed as the chief executive officer of DBW. The young Farrell has been applying 80/20 operating strategies to promote excellent operational efficiency and return on investment, while holding executive positions in several private equity portfolio companies.
Headquartered in Vernon Hills, Illinois, DBW has the largest product line in the diamond tool industry, with more than 30,000 active customers in the United States, Canada, South America, Europe, Asia and Australia.
Granite Creek's investment in Diamond Blade Warehouse comes from its $200 million fund, Granite Creek FlexCap II, LP ("FlexCap II"). Granite Creek's goal is to invest in companies engaged in manufacturing, business services, healthcare, and agribusiness. The investment team plays an active role under the leadership of its portfolio companies to support growth, strategy and financial development.
"In terms of acquiring and monitoring industrial companies, we cannot imagine a better partner than the Farrell father and son. By applying the 80/20 operating principle to Diamond Blade Warehouse, we believe that the business will be able to expand into new regions and increase its growth Rate," said Peter Lehman, co-founder and partner of Granite Creek Capital Partners, LLC. "DBW's brand, product catalog, knowledgeable customer service consultants and fast fulfillment capabilities have been the pillars behind 35 years of success."
Jim Farrell, CEO of Diamond Blade Warehouse, said: "Granite Creek is by our side at every step. "When we plan for the development of Diamond Blade Warehouse, we are fortunate to have supportive capital partners and an all-star team of employees. They are providing advice to our customers every day to help them save consumables while maximizing the efficiency of their work sites. "
About Diamond Blade Warehouse Diamond Blade Warehouse, established in 1987, is a leading direct seller, providing a full range of diamond cutting tools for various applications. The company's 30,000 active customers rely on DBW's diamond blades, core bits and cup wheels to cut concrete, asphalt, granite, ceramic tiles, marble, porcelain, bricks and more. The company's products are used for cutting and finishing various materials and end markets, including concrete and masonry, concrete pavers and hard bricks, pointed bricks, ceramic tiles, granite and marble. To find more information, please visit the Internet. https://www.diamondbladewarehouse.com/.
About Granite Creek Capital Partners, LLC Founded in 2005, Granite Creek Capital Partners, LLC is a Chicago-based private investment company focused on providing services to low- and mid-market companies engaged in manufacturing, commercial services, healthcare, and agribusiness Capital and operating resources. Granite Creek has an experienced investment professional team with expertise in private equity, banking, operations and business development, and has a successful record of investing in and supporting its portfolio companies. In addition to providing funding for low- and mid-market companies, Granite Creek co-founded Renovo Financial in 2011, which is one of the largest regional private lending institutions serving real estate entrepreneurs. Granite Creek was recently included in Inc.'s 2020 list of Top 50 Private Equity. For more information about Granite Creek, please visit www.granitecreek.com or call 312-895-4500.
For more media information, please contact:
Lisa Hendrickson, LCH Communications of Granite Creek