Speedtech International Inc., manufacturer of SPEEDWRAP brand hook-and-loop products, along with specialty fasteners, and an authorized distributor of Velcro brand products, recently acquired Toleeto Fasteners International. Toleeto has expertise custom-fabricating webbing, neoprene and hook-and-loop products. The acquisition “will dramatically increase Speedtech’s capabilities, services, and geographical footprint,” Speedtech said when announcing the deal.
Among the Toleeto brands that are now part of Speedtech’s portfolio are the Cord-Lox Cable Wraps product line, Rack-ups, and Coil’n’Carry adjustable hand straps. “These hook-and-loop fasteners have become a popular reusable fastener for bundling cables in the professional sound and lighting, motion picture, telecommunications, and photography industries,” Speedtech added.
Toleeto also has a strong market presence as a custom manufacturer of textile products for medical, maintenance and repair operations (MRO), and audio/video (AV) industries. Toleeto manufactures, for example, custom strapping for telecom equipment.
“Speedtech’s manufacturing strength is fabricating hook-and-loop materials, especially Velcro brand One-Wrap fasteners,” said Speedtech president Chris Karnowski. “For most of the SPEEDWRAP brand products and what we custom fabricate for our customers, we rely on cutting, slitting and welding. With the acquisition of Toleeto, we now have instant expertise of high-quality industrial sewing and other types of die-cutting and printing on Velcro brand material. We’ve essentially doubled our manufacturing capability with highly skilled experts now all under one umbrella.”
The combined company intends to expand upon Toleeto’s manufacturing expertise of non-hook and loop materials—including custom fastening solutions using webbing, neoprene and foam laminates.
Distributors and resellers of SPEEDWRAP can now offer Toleeto products, services and capabilities. “Distributors like Fastenal want to serve as much of their customers’ fastener needs as possible,” said Steve Pope, Speedtech vice president. “With our acquisition of Toleeto Fasteners, we can better arm Fastenal sales representatives and the sales teams at our other resellers. Our resellers now have a larger toolbox to draw from when serving their customers.”
Speedtech adds the combined company will better serve North America. Toleeto’s San Diego manufacturing facility will provide added responsiveness to West Coast U.S.A. clients. Karnowski explained, “Through our distribution network, we service customers like Google, Facebook and large data centers in the West and Southwest. We will leverage our new presence in California to better serve and support these customers.” “We hope to expand upon our relationship with Velcro companies by serving customers located on the West Coast and Southwest U.S. with Velcro brand products and our customization services including printing on Velcro brand materials.”
Dean Deavenport, Toleeto Fasteners’ president, stated, “We are not only excited to gain direct access to markets and customers Speedtech serves, but to also offer Toleeto’s existing customers, SPEEDWRAP brand fasteners and Speedtech manufacturing expertise. This is definitely a win-win for everyone."