Century Drill & Tool Acquisition Announcement
Century Drill & Tool Corp. headquartered in Green Bay, Wisconsin has been purchased by an investment group led by Chicago-based Onward Capital. Terms of the transaction were not disclosed.
Century Drill & Tool is a leading distributor of power tool accessories and hand tools for the automotive and hardware industries. The Company has been successfully serving customers since its beginnings in 1940 and has built a reputation for unmatched customer service and product breadth and quality. Darrin Purcell will be stepping down as the company’s CEO/President while retaining a seat on Century’s board of directors. Kurt Tachick, Century’s recent Vice President of Sales & Marketing will assume the role of President effective immediately. Kurt has been with Century and collaborating with our customers and vendors for over 25 years. His knowledge of the hardware and automotive market, products and programs will ensure stability and continue to foster significant growth for Century.
Marcus George, Partner of Onward Capital, said, “Century Drill has a unique position in the power tool accessories market with an outstanding reputation for innovative solutions, manufacturing excellence and customer service.” Laura Lester, Onward Capital Partner, added, “We look forward to working with the management team to develop new products, enter new markets and build upon the Company’s success.”
Kurt Tachick, President of Century Drill & Tool, commented, “We are thankful for all the value that the Purcell Family has added over the years and thrilled to be partnering with Onward Capital. Together, Century Drill and Onward Capital will form a synergistic partnership to help our customers with innovative products. Onward Capital will provide us with strategic and financial resources to achieve our shared passion for growth.”