WINTER 2021

THE DISTRIBUTOR’S LINK 69
Speedtech International,
Inc., the manufacturer of
SPEEDWRAP® Hook & Loop
Products, Specialty Fasteners,
and Authorized Distributor of
VELCRO® Brand Products has
acquired Toleeto Fasteners
International located in San
Diego, CA. With their expertise
in custom fabricating webbing,
neoprene and hook & loop,
Toleeto Fasteners International
will increase Speedtech’s
capabilities, services, and
geographical footprint and
help them to better serve their
Industrial Distributors.
Speedtech’s President
Chris Karnowski explains,
“Speedtech’s manufacturing
strength is fabricating hook
& loop materials, especially
VELCRO® Brand ONE-WRAP®
Fasteners. We rely on cutting,
slitting and welding, so 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 under one umbrella.”
The combined companies
intend to expand upon Toleeto’s
manufacturing expertise of
non-hook and loop materials.
This expertise includes custom
fastening solutions using
webbing, neoprene and foam
laminates.
For more info contact
Speedtech International, Inc.
at Tel: 1-800-771-3896, Email:
sales@speedtechinternational.
com or online at www.
speedtechinternational.com.
Andy Cohn recently announced
the sale of Duncan Bolt to an
Employee Stock Ownership Plan.
Founded in 1953 by David
Duncan, the Southern Californiabased
fastener distributorship is
now headed by general manager
Steven Somers, and the team
of Norris Glantz, Andrew Bengis,
James Socrates and David Glantz
will lead the distributorship. Duncan
Bolt president Andy Cohn and vice
president Virginia Cohn are retiring.
A year ago, four key employees
approached Cohn about an ESOP.
Cohn noted that ESOPs usually
don’t provide the seller with top
dollar, but there are capital gains
tax advantages.
And there is something that
“feels good” about selling to
employees who helped build the
distributorship, Cohn emphasized.
“It is less brutal than selling to
the highest bidder and announcing
to employees, “Oh, by the way, you
now work for Fred.”
During his 46 years in the
fastener industry, Cohn was the
2001-2002 president of the
Western Association of Fastener
Distributors, a co-founder of the
Fastener Education Fund and a
board member of the National
Fastener Distributors Association.
Duncan commented that the
biggest change in the fastener
industry during his career was the
sourcing of imported fasteners
from Japan to Taiwan to China. He
watched as the world moved away
from domestic fasteners.
For more information contact
Duncan Bolt by Tel: 1-800-798-1939
or online at www.duncanbolt.com.
Courtesy of www.globalfastenernews.com