Toolbank Parent Buys ForgeFix

ForgeFix has become part of Dormole Limited, the parent company of Toolbank.

Forgefix was started in 1999 by Steve and Mike Smith and has supplied Toolbank for a number of years. In a letter to Forgefix customers, Toolbank business development director, Tim Strong, was quoted as saying: “Forgefix have been a supplier to Toolbank for many years and we are delighted that we will now be able to work even more closely with its team.”

Dormole previously bought into other supply side businesses, including acquiring Olympia Tools in 2009 and taking a majority share in Biz Power Tools. Reportedly, the company will manage ForgeFix as “an arm’s length subsidiary”.

Over the last two years ForgeFix has consistently reported strong sales growth and recently purchased a new 10,000 square feet warehouse to provide an extra 950 pallet capacity at its distribution centre in High Peak. ForgeFix’s product portfolio currently consists of “3,000+ lines ranging from screws and nails to bolts and drill bits”.

The business has also taken on four additional members of staff to support its growth and to help further drive sales. Commenting on the new warehouse, Mike Smith said: “As a business, ForgeFix has built its success on adding value to our customers by regularly introducing new, high quality product lines as well as innovative sales initiatives. The new warehouse facility will be instrumental in supporting this growth”.

On the acquisition he told customers: “We feel we will have the best of both worlds; the continued independence of running an autonomous business, backed by the strength of the Dormole Group. This means we can further improve customer service, whilst continuing the rapid growth of ForgeFix.”