Granite Creek Capital Partners’ Portfolio Company, DBW Holdings, L.L.C., (“DBW Holdings”), parent company of Diamond Blade Warehouse (“DBW Holdings”), today announced the acquisition of Peak Toolworks (“Peak”), the premier manufacturer and servicer of diamond and carbide precision cutting tools. DBW Holdings’ acquisition of Peak Toolworks was completed in partnership with Canterbury Ventures, L.L.C., the investment arm of James M. Farrell and W. James Farrell, Hidden River Strategic Capital, and Muzinich BDC, Inc.
Peak joins Diamond Blade Warehouse, L.L.C. (“DBW”) under the DBW Holdings umbrella. Both companies will remain dual operating businesses. The acquisition expands DBW Holdings’ ability to provide industry-leading products to customers in attractive end-markets, including infrastructure, construction trades, building products, automotive, and manufacturing.
In conjunction with the acquisition, W. James Farrell will continue as the Chairman of DBW Holdings, and James M. Farrell will lead the consolidated day-to-day operations as CEO. W. James Farrell was the longtime Chairman and CEO of Illinois Tool Works, leading the business through numerous acquisitions and billions of dollars of shareholder value creation. The signature operating approach of ITW is the 80/20 process, and this is a core tenet of the Farrells’ leadership of DBW Holdings.
The addition of Peak and its complementary assets establishes a combined entity comprising world-class employees, exceptional customers, and a diverse portfolio of products and end markets. With a strong foundation already in place, we look forward to applying our 80/20 operating principles to drive efficiencies and growth for the combined company.”James M. Farrell, CEO of DBW Holdings
“We are grateful for the partnership we have fostered with the Farrells since our joint acquisition of DBW in 2021,” said Ken Kruger, Director at Granite Creek. “. We have been impressed by their methodical implementation of operational improvements and growth initiatives at DBW, and are confident in their ability to drive further value creation at Peak.,” said Ken Kruger, Director at Granite Creek.