Milton Industries, Chicago-based leader in pneumatic and hydraulic accessories, has acquired Casey Tools and Lock Technologies, designer and manufacturer of the LTI Tools brand of professional technician specialty tools and equipment including Texas Twister, Shockit Socket, Kentucky Kicker, and several other sub-brands. The Casey Tools brand of tools and equipment is distributor to professional technicians exclusively through mobile tool dealers.
Lock Technologies and Casey Tools, based in Naperville, Ill., have been in business for more than 40 years serving US and international customers in automotive, body shop, heavy-duty truck, construction equipment, first responder, towing and other industries.
This is Milton’s sixth acquisition in the last 30 months.
“This expands Milton’s offerings into LTI’s product line and distribution channels,” said Greg Carlson, CEO of Milton Industries. “We look forward to leveraging our resources and combined market positions. Our people, knowledge, and distribution will propel us to next level growth.”
“We’re excited about partnering with an iconic firm like Milton,” said LTI/Casey Tools president Ellery Casey. “We have always prided ourselves on the quality of our specialty automotive tools, and Milton is one of the few companies which meets the same qualitative standards.”
“While we have largely focused on the automotive and truck markets, our products have a much broader range of applications,” continued LTI/Casey Tools CFO Wayne Casey. “Partnering with Milton allows us to tap existing demand from a number of other industries such as defense and manufacturing.”
Carlson will continue as CEO of Milton Industries. Meanwhile, Wayne will be active with LTI/Casey Tools in the short term for the transition and take an equity position in Milton, while Ellery will remain in an ongoing part-time role, contributing to new product development and selective major account business development.
Milton’s core management team continues to partner with financial sponsor LLCP (Levine Leichtman Capital Partners).
Milton Industries and Lock Technologies bring strong branding, experience and expertise across their now combined markets in automotive, manufacturing, industrial, first responder, defense, construction equipment, aeronautics and trucking/fleet industries.
