CHICAGO — DBW Holdings, L.L.C., the parent company of Diamond Blade Warehouse, has acquired Peak Toolworks, the premier manufacturer and servicer of diamond and carbide precision cutting tools for the woodworking industry. Details of the acquisition were not released.

DBW Holdings’ acquisition of Peak Toolworks was completed in partnership with private investment firm Granite Creek Capital Partners, L.L.C., and Canterbury Ventures, L.L.C., the investment arm of James M. Farrell and W. James Farrell, with additional financing provided by Hidden River Strategic Capital and Muzinich BDC, Inc. 

Peak, based in Jasper, Indiana, joins Diamond Blade Warehouse under the DBW Holdings umbrella. Both companies will remain dual-operating businesses. The acquisition expands DBW Holdings’ ability to provide industry-leading products to customers in attractive end-markets, including infrastructure, construction trades, building products, automotive, and manufacturing.

In conjunction with the acquisition, W. James Farrell will continue as the Chairman of DBW Holdings, and James M. Farrell will lead the consolidated day-to-day operations as CEO. W. James Farrell was the longtime Chairman and CEO of Illinois Tool Works, leading the business through numerous acquisitions and billions of dollars of shareholder value creation. The signature operating approach of ITW is the 80/20 process, and this is a core tenet of the Farrells’ leadership of DBW Holdings.

“The addition of Peak and its complementary assets establishes a combined entity comprising world-class employees, exceptional customers, and a diverse portfolio of products and end markets,” said James M. Farrell, CEO of DBW Holdings. “With a strong foundation already in place, we look forward to applying our 80/20 operating principles to drive efficiencies and growth for the combined company.”