Blue Point Tool and Supply Joins Ficodis Group

This transaction will enhance the Long Island-based company's portfolio and geographical footprint, as well as ensure the continuity of its operations

Montreal, Aug. 14, 2019 /PRNewswire/ - The Ficodis Group announces the acquisition of Blue Point Tool and Supply, a Long Island-based industrial supply company specializing in products and services for the metal working industry. Ficodis is a leader in the industrial supply distribution sector, recognized for offering customized services and solutions to manufacturing companies and SMEs. As part of the Ficodis Group, Blue Point Tool and Supply will expand its footprint into the Canadian market, also serving the provinces of Quebec and Ontario, and its expertise will benefit all of the group's members.

"We are pleased to welcome Blue Point Tool and Supply to the group, affirmed Ficodis Group President Christophe Bévillard. Blue Point Tool Supply has a well-established reputation, a knowledgeable sales team, quality products at competitive prices, and superior customer service. Since the creation of Ficodis in 2010, we have made very valuable acquisitions that have allowed us to diversify our range of industrial products and expertise, as well as expand our client base. Blue Point and its team represent another valuable asset added to the group."

"All of us here at Blue Point are extremely excited to join the Ficodis Group, said Mark Rollino, who has worked side by side with Dave Monheit, the founder of Blue Point Tool and Supply, since 1984. Mark Rollino will now serve as President of Blue Point Tool and Supply under the Ficodis Group, while Dave Monheit will stay on to assist with the transition during the next several months. "With Blue Point becoming a part of Ficodis, it allows us the opportunity to work with a company that truly shares our core values. Ficodis will assist in creating additional resources for growth and expansion throughout our customer base in order to accommodate their ever-changing needs. The enthusiasm that the Ficodis team has shown for our company and experienced staff, many of whom have been with Blue Point for thirty plus years, was absolutely a driving force in this decision. We are looking forward to joining the Ficodis family", continued Rollino.

Founded in 1979, Blue Point Tool and Supply has a solid customer base in New York, New Jersey and Connecticut. The company distinguishes itself as the premier supplier of cutting tools, abrasives, lubricants and machine shop supplies to the metal working industry in its respective geographical markets. In addition to offering a wide range of metal working tools, the company provides its customers with cutter grinding and sharpening services.  

Blue Point Tool and Supply also operates a fully stocked truck in Connecticut and Long Island bringing inventory and special on-site offerings in real time to its customers. The team can also provide on-site vendor managed inventory solutions for its customers. Over its 40 years in business, Blue Point Tool and Supply has established relationships with many of the highest quality manufacturers in the industrial tooling sector.

About Ficodis

Ficodis is a multi-specialized industrial supply distribution group that was founded in 2010 and is headquartered in Montréal. Comprised of 15 locations throughout the Canadian provinces of Quebec and Ontario, and in Long Island, New York, the Ficodis Group is recognized for the quality of its service, its technical expertise, as well as the products and solutions they provide, tailored to the needs of manufacturing companies and SMEs. The group specializes in four areas: Tools, Safety, Cutting and Power. Ficodis also offers a complete range of top-quality tools under its private label Cromson, that includes cutting tools, hand tools, abrasives and other Maintenance, Repair and Operations products. All of the products found in‑store can also be ordered online at industrial-supplies.ca. To support its growth, Ficodis counts on the support of major financial partners such as Fondaction and Bank of Montréal. For more information www.ficodis.com.

Source Ficodis

Contact:

Marc-Antoine Guérard, 514-317-5715, ext. 228, maguerard@zonefranche.ca

Web Site: http://ficodis.ca/

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